The BHP agreement buys Woodside space to plan life beyond fossil fuels

For more than 50 years, the name Woodside has been synonymous with oil and gas in Australia.

Although Australia’s mining giant BPP was ahead of the petroleum game, Woods became the industry’s leading environmental champion.

This is how the financial and political importance of Weds is in Australia. In 2001, the current treasurer, Peter Costolo, issued a bid to take over the Royal Netherlands for National Interest.

But in recent years, as land has changed under the fossil fuels industry and investors have begun to reduce fossil fuels, a lesser-known reality has begun to emerge.

It was Woodside — without the successful completion of the LNG development — it looks like a company with a lot of future.

Analysts say the company is now moving forward with plans for a link between Woodside and mining giant BHP Oil and Gas.

It clears the ‘discount’ path for Woodside

The merger between Woodside and BHP will create one of the world’s largest oil and gas players.(

Presented: On the wooden side


The deal includes a merger of $ 41 billion.

Essentially, Graeme Betune from Consultant Energy Quest said the deal would pave the way for the planned $ 12 billion Scarbon LNG development off the north-west coast of Australia.

Doubts were growing that the BPP would go ahead with 26.5 percent of the project.

Mr Betune said the proposed new Woodside would be 100% owned by the project and had some problems with its continuation.

It is always difficult to find other joint ventures online for big investment decisions, ”said Mr Betune.

As part of the deal, Mr. Woods will have access to the world’s largest oil and gas resources, including those in the Gulf of Mexico.

He described the assets as “major cash generators” and said they would significantly increase WoodSide’s financial strength.

However, according to Mr Betune, Woodside has doubled in size for the BPP deal, but the window for the new Greenfield oil and gas development opportunities is closing.

Scarborough ‘may be the last’

Mr Scarboro said the proposed move could be the last such LNG project in Australia.

By LNG. The cheapest types of expansion in are brown field projects, or expanding existing projects and replenishing them. ”

Turn on the lights at night at the Woods Pluto LNG project in Pilbara.
The Pluto LNG development in Pilbara was Woodside’s last major expansion project.(

Presented: On the wooden side


I don’t think we should be looking for new projects.

Recent uncertainty over Scarboro’s fate has cost the country $ 300 billion for new projects across the country, in contrast to the gas industry record over the past 15 years.

Allison George, head of research at Reagan’s investment company, said the threat of carbon emissions in the oil and gas industry is becoming increasingly difficult for new projects.

Ms. George said such fears could trap Scarbon, but said the BHP merger would buy “time” and “time and money” to find life beyond fossil fuels.

As the world shifts to pure zero emissions, Wideside says hydrogen and ammonia have other options.

Narrow road widens

“Woodside’s existing fields began to decline and they were looking for a reduction,” said George.

The road was narrow. There were fewer options for that.

Now, with this vast variety of assets, there are many more opportunities.

Goodwin Forum, Northwest Shelf Project
Oil and gas are seen in the sunset industry.(

Presented: On the wooden side


Benefits are not without risks

According to Mr. George, the BPP’s clearing of Woodside space as a “pure game” of oil and gas has elevated the league to one of the world’s largest producers.

According to George, this could make it easier for WoodSead to attract investors from overseas, but there were also potential disadvantages.

As the world’s largest oil and gas player, Woodsaid said of its environmental performance, it could “stick its head above the pavement.”

“In terms of scale, it will bring in a lot of investors who have not paid attention before,” he said.

So, while WidS has heard a lot from the local institutional stakeholders on climate change in recent years, I think this move will make that discussion stronger and make those discussions more global.

A blue-collar woman in a black dress and a broken shirt stood in front of the Woodside crew for robotic control
“It’s a modern project,” said Meg O’Neill Scarborro, general manager of Woodside.(

ABC – Daniel Mercer


This week, Woodside CEO Meg O’Neill said the deal – paid for by BPP shareholders – was taking into account BPP’s debt by eliminating declining assets in areas such as Bass Street and Western Australia.

Ms. O’Neill, for her part, said that the fact that Woodsdd was part of the deal meant that not taking any debt meant that it would be better off pursuing “low carbon opportunities” in the future.


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