Woodside shareholders OK merger with BHP’s unit

Australian LNG player Woodside said on Thursday its shareholders have approved the planned merger with BHP’s oil and gas business.

“Today is a momentous day for our company. Our shareholders have voted to approve the proposed merger with BHP’s petroleum business at our annual general meeting,” Woodside said in a social media post.

“This is an important step towards implementation of the merger, targeted for June 1,” it said.

Woodside revealed in November it had signed a binding merger agreement with BHP’s petroleum business. On the same day, it also took a final investment decision on the Scarborough and Pluto LNG Train 2 developments worth about $12 billion.

After that, the firm said it would appoint at least four BHP executives to the leadership team of the merged company.

The merger would create a top 10 global LNG producer worth about $40 billion and transform Woodside by doubling production, diversifying the portfolio and offering multiple growth opportunities, the firm previously said.

On completion of the merger, Woodside will issue new shares expected to comprise about 48 percent of all Woodside shares on a post-issue basis as consideration for the acquisition of BHP Petroleum.

Most Popular

Indonesia’s Sillo Maritime buys LNG carrier for $65 million

Indonesia's Sillo Maritime has purchased a 2009-built liquefied natural gas (LNG) carrier for $65 million.

Ksi Lisims LNG inks deals with First Nations

Canada's Ksi Lisims LNG, the developer of a 12 mtpa LNG project in British Columbia, has signed benefits agreements with three First Nations.

Asyad Shipping and MOL sell steam LNG carrier

Oman's Asyad Shipping and Japan's MOL have sold their jointly-owned 2001-built steam liquefied natural gas carrier, Sohar LNG.

More News Like This

Woodside exercises right to buy PetroChina’s Browse LNG stake

Australian LNG player Woodside has exercised its right to pre-empt the sale of PetroChina International’s 10.67 percent participating stake in the Browse joint venture to Japan's Inpex.

BP to sell Browse LNG stake to GS Energy

UK-based energy giant BP has agreed to sell a 5 percent stake in the planned Woodside-led Browse LNG project in Australia, which would deliver natural gas from the Calliance, Torosa, and Brecknock fields to the existing Karratha gas plant, to South Korea's GS Energy.

Maintenance workers start strike at Karratha gas plant, Pluto LNG

Maintenance workers at the Woodside-operated Karratha gas plant, part of the North West Shelf project, and the Pluto LNG export plant in the Pilbara region of Western Australia began a strike on Wednesday after failing to reach an agreement with contractor UGL, according to the Offshore Alliance.

Seapeak orders more LNG carriers at Samsung Heavy

South Korean shipbuilding giant Samsung Heavy Industries has won a new contract from Stonepeak’s Seapeak to build three liquefied natural gas (LNG) carriers.