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Did bhp sell petroleum business to Woodside Petroleum?

MELBOURNE, Aug 17 (Reuters) - BHP Group BHP.AX has agreed to sell its petroleum business to Woodside Petroleum in a merger to create a top 10 independent oil and gas producer worth A$38.5 billion ($28 billion) with growth assets in Australia and the Americas.

What does the BHP-Woodside merger mean for Australia’s oil industry?

BHP Group has agreed to sell its petroleum business to Woodside Petroleum in a merger to create a top 10 independent oil and gas producer worth A$38.5 billion ($28 billion) with growth assets in Australia and the Americas.

What does Woodside-bhp merger mean for Woodside?

"Merging Woodside with BHP's oil and gas business delivers a stronger balance sheet, increased cash flow and enduring financial strength to fund planned developments in the near term and new energy sources into the future," Woodside Chief Executive Meg O'Neill said in a statement.

Is BHP’s Woodside deal related to its 30% emissions reduction target?

Outlining its plans to tip its oil and gas assets into Perth-based Woodside as early as mid-next year, the BHP chief executive, Mike Henry, insisted it was “not at all” related to BHP’s ambitious target to reduce carbon emissions by 30%.


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