XRG's $18.7 billion takeover of Santos hangs in the balance

Adnoc-led XRG Consortium yet to receive approvals needed for proposed acquisition

Santos chief executive, Kevin Gallagher, on the sidelines of APPEA 2023 in Adelaide, Australia. — Santos chief executive, Kevin Gallagher, on the sidelines of APPEA 2023 in Adelaide, Australia.Photo: AMANDA BATTERSBY/UPSTREAM

Amanda Battersby

Asia Bureau ChiefSingapore

Published 19 August 2025, 01:38Updated 19 August 2025, 08:13

Santos ADNOC XRG Consortium Carlyle Group Asia & Oceania