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.
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