Australia's Santos on track for sharp weekly rise on PNG stake buy, $100 oil
11/09/2026 02:04
BUZZ-Australia's Santos on track for sharp weekly rise on PNG stake buy, $100 oil ** Shares of Santos STO.AX rise as much as 1.8% to A$8.68 in early trade, highest since June 2022
** Stock on track for 5.36% weekly rise, its strongest move since mid-August
** Australia's no.2 independent oil and gas major on Monday said it had acquired an additional 3.3% interest in the Papua LNG project from France's TotalEnergies TTEF.PA for $189 million
** Santos has also benefited from crude prices surging above $100 a barrel amid escalating conflict between the U.S. and Iran
** Stock up 40.2% YTD
(Reporting by Nikita Maria Jino in Bengaluru)
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