BHP Group will transfer a smaller-than-expected $3.9 billion in oil and gas decommissioning liabilities to Woodside when it merges its petroleum business with the independent Australian gas producer.Woodside's shares jumped 6.5% after the figure was disclosed in BHP's annual report on Tuesday, outperforming gains of around 4% among its peers.'The long-awaited BHPP (BHP Petroleum) abandonment provision number has been released…
Woodside's recent acquisition of BHP's oil and gas business is making its ESG narrative complicated, energy intelligence firm GlobalData said, as BHP's assets it has acquired will boost Woodside's oil production and ultimately lead to a more carbon-intensive product base over the near term…
Santos sealed an agreement to buy Oil Search to create a global top 20 oil and gas company, the companies said on Friday, even as the Papua New Guinea government raised concerns that a takeover could harm national interests.The deal will make…
TAQA, a UAE-based oil company with assets in the UK North Sea, said Wednesday it had initiated a strategic review of its oil and gas operations, including the possibility of selling some or all of them.'The review will assess strategic options…
Oil Search Ltd will need billions of dollars to fund its growth plans, and tying up with Santos Ltd to create a A$20 billion ($14 billion) company will give it the access to capital that it needs, its boss said on Tuesday.Oil Search agreed to…
BHP Group is at risk of a two-notch downgrade that would provoke its lowest ever credit rating as the sale of its petroleum business raises the miner's dependence on its major business of iron ore, S&P Global said on Tuesday.BHP has agreed to…
The market hasn't exactly cheered BHP Group's proposed exit from its oil and gas business, with shares of both the mining giant and the acquirer, Woodside Petroleum, tumbling in the wake of deal.A point of concern for investors is that BHP may have sold the assets too cheaply…
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.BHP's exit from petroleum…
Santos Ltd expects its planned takeover of Oil Search, creating a A$20 billion ($15 billion) company, will help the combined group weather the energy transition better than if they remained separate.The companies agreed an all-scrip deal earlier…
Australian oil company Woodside confirmed Monday it has been in talks with BHP over the potential acquisition of BHP's oil and gas business.'Woodside notes recent speculation regarding a potential transaction between Woodside and BHP Petroleum…
Bluewater-backed energy services firm Kent, formerly known as Kentech, has completed the acquisition of the majority of SNC-Lavalin’s oil and gas division, with a minority portion to follow at a later date. 'The Company now harnesses the strength…
Shares in Woodside Petroleum fell on Wednesday after an unsourced media report said Australia's top independent gas producer was in talks to buy some or all of BHP Group's oil and gas assets, analysts and an investor said.Woodside shares ended down 2 cents in a broader market that rose 0…
Noble Corp and a consortium that includes Transocean Ltd and Dolphin Drilling are competing to acquire the assets of Seadrill Ltd, the bankrupt offshore oil driller controlled by Norwegian-born tycoon John Fredriksen, people familiar with the matter said on Tuesday…
Oil Search rejected an unsolicited takeover proposal from Santos Ltd that valued the Papua New Guinea-focused oil and gas producer at A$8.8 billion ($6.5 billion), the two companies said on Tuesday.Oil Search said the offer was not in the best interests of shareholders…
Oil and gas services company Proserv Controls, has acquired the Middle Eastern operations of Dron & Dickson Electromechanical Contracting (DDEC) LLC, for an undisclosed fee. DDEC is a UK-based specialist in the supply, assembly, and maintenance of hazardous areas and industrial electrical equipment…
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