Anglo-Australian BHP Group is merging its oil and gas business with Woodside Petroleum Ltd. The all-stock merger will create a global top 10 independent energy company by production, and will also allow BHP to focus more intently on “future-facing commodities” that are most positively leveraged towards population growth, rising living.
Australia's Woodside Petroleum Ltd (WPL.AX) shares fell more than 4% on Wednesday in the market's first verdict on a merger with BHP Group's (BHP.AX) petroleum business that will turn it into a global top 10 oil and gas producer.
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