Australian mining giant BHP confirmed on Monday it was considering getting rid of its petroleum business through a merger with the LNG producer Woodside
MOSCOW (Pakistan Point News / Sputnik - 16th August, 2021) Australian mining giant BHP confirmed on Monday it was considering getting rid of its petroleum business through a merger with the LNG producer Woodside.
The Melbourne-based mining company said it had been in discussions with Woodside Petroleum in Perth, but no agreement had been reached yet.
"A number of options are being evaluated. One option is a potential merger of the Petroleum business with Woodside Petroleum Ltd (Woodside) and a distribution of Woodside shares to BHP shareholders," BHP said.
Australian media estimated that the deal could be worth up to $20 billion. The sell-out has been reportedly been in the pipeline for months due to a mounting pressure on BHP to decarbonize.
