BHP Group LtdThe group is continuing to negotiate with Woodside Petroleum Ltd. Over a potential merger of its oil business, a deal that will accelerate BHP Group Ltd's withdrawal from fossil fuels.
Woodside said in a statement on Monday that the two companies were discussing options, including "a potential merger involving BHP Group Ltd's entire oil business by allocating Woodside shares to BHP Group Ltd shareholders".
Last month, foreign media reported that BHP Group Ltd was considering a multibillion-dollar plan to withdraw from the oil and gas business and would accelerate its withdrawal from fossil fuels. Woodside and BHP Group Ltd are in advanced talks on a deal worth about A $20 billion (US $14.7 billion), the Australian Financial Review reported on Sunday, citing people familiar with the matter.
BHP Group Ltd said in a statement that negotiations are currently under way and no agreement has been reached. BHP Group Ltd is scheduled to announce full-year results on Tuesday.