It comes as BHP and other large mining companies have been facing calls from shareholders and environmental pressure groups to reduce their exposure to fossil fuels.
BHP mulls merging its oil business with Australia’s Woodside, Ultra Electronics accepts a £2.6 billion takeover from Cobham, Lloyds Banking Group’s new chief executive takes over today, and Future shares hit a new high as it grows its portfolio of titles with a £300 million deal.
Reuters
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The logo for Woodside Petroleum, Australia s top independent oil and gas company, adorns a promotional poster on display at a briefing for investors in Sydney, Australia, May 23, 2018. REUTERS/David Gray/File Photo/File Photo
July 15 (Reuters) - Australia s Woodside Petroleum (WPL.AX) on Thursday reported a 67% increase in sales revenue for the second quarter, helped by higher realised prices for natural gas and oil as global demand recovers.
The country s top independent gas producer also said it has begun the sell-down process of up to 49% of Train 2 in the Pluto LNG plant, and was looking to cut its stake in Scarborough, Woodside s only big growth project in the near term.