BHP in talks to sell petroleum business to Australia's Woodside

Reuters2021-08-16

Aug 16 (Reuters) - BHP Group Ltd is in talks to sell its petroleum business to Australia's top independent gas producer Woodside Petroleum Ltd in exchange for shares, the companies confirmed on Monday.

The world's biggest miner BHP also said it had begun a strategic review of the business — made up of assets in Australia, the Gulf of Mexico, Trinidad and Tobago, and Algeria — that analysts value at between $10 billion and $17 billion.

BHP has been facing calls to detail how and when it will exit fossil fuels, with activist investor Market Forces filing a resolution on the topic this week for annual meetings in October and November.

The miner was widely expected to deliver a verdict on the future of the petroleum business ahead of its results this week.

"While discussions between the parties are currently progressing, no agreement has been reached on any such transaction," BHP said, adding that it was evaluating a number of options.

In a separate statement, Woodside confirmed talks with BHP over the deal and said discussions were ongoing.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

RichWife
2021-08-16
RichWife
Hi
- Robert88:
  Hi
ZhiLing
2021-08-16
ZhiLing
opss
- RichWife:
  Hu

Leave a comment

2

114

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2159434372?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-08-16 08:46","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2159434372","market":"fut","top_or_hot":-1,"title":"BHP in talks to sell petroleum business to Australia's Woodside","media":"Reuters","content":"<p>Aug 16 (Reuters) - BHP Group Ltd is in talks to sell its petroleum business to Australia's top independent gas producer Woodside Petroleum Ltd in exchange for shares, the companies confirmed on Monday.</p>\n<p>The world's biggest miner BHP also said it had begun a strategic review of the business — made up of assets in Australia, the Gulf of Mexico, Trinidad and Tobago, and Algeria — that analysts value at between $10 billion and $17 billion.</p>\n<p>BHP has been facing calls to detail how and when it will exit fossil fuels, with activist investor Market Forces filing a resolution on the topic this week for annual meetings in October and November.</p>\n<p>The miner was widely expected to deliver a verdict on the future of the petroleum business ahead of its results this week.</p>\n<p>\"While discussions between the parties are currently progressing, no agreement has been reached on any such transaction,\" BHP said, adding that it was evaluating a number of options.</p>\n<p>In a separate statement, Woodside confirmed talks with BHP over the deal and said discussions were ongoing.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BHP in talks to sell petroleum business to Australia's Woodside</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBHP in talks to sell petroleum business to Australia's Woodside\n</h2>\n\n<h4 class=\"meta\">\n\n2021-08-16 08:46 北京时间&nbsp;&nbsp;&nbsp;<strong>Reuters</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Aug 16 (Reuters) - BHP Group Ltd is in talks to sell its petroleum business to Australia's top independent gas producer Woodside Petroleum Ltd in exchange for shares, the companies confirmed on Monday...</p>\n\n<a href=\"None\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WPL.AU","symbol_name":"WOODSIDE ENERGY GROUP LTD","start_time":0,"source_url":null,"article_id":"2159434372","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2159434372","pubTimestamp":1629074795,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"Aug 16 (Reuters) - BHP Group Ltd is in talks to sell its petroleum business to Australia's top indep","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"WPL.AU":"WOODSIDE ENERGY GROUP LTD","BHP.AU":"BHP GROUP LTD"},"translate_title":"必和必拓谈判将石油业务出售给澳大利亚伍德赛德","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BHP.AU":0.9,"WPL.AU":0.9},"content_text":"Aug 16 (Reuters) - BHP Group Ltd is in talks to sell its petroleum business to Australia's top independent gas producer Woodside Petroleum Ltd in exchange for shares, the companies confirmed on Monday.\nThe world's biggest miner BHP also said it had begun a strategic review of the business — made up of assets in Australia, the Gulf of Mexico, Trinidad and Tobago, and Algeria — that analysts value at between $10 billion and $17 billion.\nBHP has been facing calls to detail how and when it will exit fossil fuels, with activist investor Market Forces filing a resolution on the topic this week for annual meetings in October and November.\nThe miner was widely expected to deliver a verdict on the future of the petroleum business ahead of its results this week.\n\"While discussions between the parties are currently progressing, no agreement has been reached on any such transaction,\" BHP said, adding that it was evaluating a number of options.\nIn a separate statement, Woodside confirmed talks with BHP over the deal and said discussions were ongoing.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":830269193,"gmtCreate":1629076119412,"gmtModify":1676529921312,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087984929373480","authorIdStr":"4087984929373480"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/830269193","repostId":2159434372,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5539100,"gmtCreate":1629076261913,"gmtModify":1663232427240,"authorId":3581517012154462,"author":{"id":3581517012154462,"idStr":"3581517012154462","authorId":3581517012154462,"name":"Robert88","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":830269193,"type":1,"supId":0,"prevId":0,"content":"Hi","text":"Hi","html":"Hi"}],"langContent":"EN"},{"id":830280921,"gmtCreate":1629075583263,"gmtModify":1676529921027,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3557823792637532","authorIdStr":"3557823792637532"},"htmlText":"opss","listText":"opss","text":"opss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/830280921","repostId":2159434372,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5539070,"gmtCreate":1629076116123,"gmtModify":1663232428326,"authorId":4087984929373480,"author":{"id":4087984929373480,"idStr":"4087984929373480","authorId":4087984929373480,"name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":830280921,"type":1,"supId":0,"prevId":0,"content":"Hu","text":"Hu","html":"Hu"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":114,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2159434372"}