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AAP
AAP
Adrian Black

Premier vows to protect state in Santos takeover bid

Santos Oil Carlyle Kevin Gallagher Abu Dhabi National Oil Company
A consortium is making a $30 billion bid for Australian oil and gas giant Santos. (Joel Carrett/AAP PHOTOS)

Shares in oil and gas giant Santos have rocketed on the back of a takeover bid from an Abu Dhabi led consortium, but the deal may depend on winning over a state government.

Shares in Adelaide-headquartered Santos have soared after receiving a $30 billion takeover bid from a consortium led by Abu Dhabi National Oil Company and the deal has an early blessing from the board.

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