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Amid final negotiations to seal the $19 billion takeover of santos ltd., suitors led by abu dhabi national oil co Australian gas producer santos' shares fell nearly 14% on thursday after a consortium led by abu dhabi national oil company scrapped its $18.7 billion bid for the company, saying commercial terms. Were alerted to media reports of a methane leak at one of the australian producer.
Federal government agencies are facing a backlash over their dealings with gas giant santos, which allowed a major methane leak to be kept secret from the public for years People close to the matter said the disclosure, which didn't come directly from the company, eroded trust at a critical moment The facility, formerly operated by conocophillips and taken over by santos in 2020, is currently shut down for works ahead of its planned backfill with gas from the company's barossa field project in late 2025
According to the documents, methane leaks from one of the plant's storage tanks date back to 2006.
Secrecy around a major methane leak helped santos avoid public scrutiny for years It backfired after a prospective bidder reportedly found out via an abc news report. A consortium led by abu dhabi national oil co Had been deep into final talks when media reports of a methane leak at one of santos' sites surfaced
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