Woodside Petroleum and BHP to merge to create Australia's biggest energy company

Woodside Petroleum and BHP's oil business will merge to become Australia's largest publicly-listed energy company and one of the top 10 energy companies in the world.

The new expanded Woodside would be 52 per cent owned by Woodside shareholders and 48 per cent owner by existing BHP shareholders.BHP's oil and gas business will merge with Woodside Petroleum to become a formidable energy company. Woodside CEO and Managing Director Meg O'Neill said the merger would provide considerable "financial strength" as the business marches towards reducing carbon emission to net zero by 2050.

"The proven capabilities of both Woodside and BHP will deliver long-term value for shareholders through our geographically diverse and balanced portfolio of tier 1 operating assets and low-cost and low-carbon growth opportunities."BHP CEO Mike Henry said the merger has been done to provide value to shareholders and future-proof the business for expected global demand.

Doubling of all energy costs on the way. Greed incorporated.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BHP and Woodside announce merger to form one of the world's biggest energy companiesBig miner BHP and oil and gas producer Woodside Petroleum will merge their oil and gas businesses to form one of the world's biggest energy companies. Woohoo, we're levelling up! Made it into the Top 10 LNG companies! Surely we'll have such a great legacy and people in generations to come will look back on us fondly. God forbid what we need is more investment in dirty energy! Presumably de-risks BHP for carbon emissions reduction in the process.
Source: abcnews - 🏆 5. / 83 Read more »