, Columnist
Even Big Oil Thinks Big Oil Is Too Risky These Days
Adnoc’s bid for Santos shows oil producers are going after LNG to counter declining demand and war.
How to eke out future revenues as the world’s hunger for oil and gas declines.
Photographer: Brendon Thorne/BloombergWhat’s an oil producer to do when it sees its core product under threat from declining demand and a war-torn neighborhood? Just ask Abu Dhabi National Oil Co.
The $19 billion all-cash bid for Australian gas producer Santos Ltd. Monday, from a consortium led by the state-owned United Arab Emirates business also known as Adnoc, is one answer to the question.