Woodside Petroleum and BHP have entered into a merger commitment deed to combine their oil and gas portfolios through an all-stock merger, which will include its 50 per cent share in Bass Strait.
Sonali Paul Illustration only - An FPSO - Credit: SimonPeter/AdobeStock
U.S. oil majors Exxon Mobil Corp and Chevron Corp on Thursday branded Australia s proposed industry-wide levy to cover the cost of decommissioning an offshore oil field, which neither has had any stake in, as arbitrary and disappointing .
The planned levy to remove facilities and plug abandoned wells at an oil field in the Timor Sea, off the northwest coast, could be a precedent-setting move with significant implications for extractive industries in Australia.
The government decided to impose the levy as it did not want taxpayers to have to cover the cost of rehabilitating the Laminaria-Corallina field in the Timor Sea after the owner, Northern Oil & Gas Australia (NOGA), went into liquidation in 2019.
BHP (ASX:BHP) share price lower despite natural gas update
Marc Sidarous | April 20, 2021 4:33pm |
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The
BHP Group Ltd (ASX: BHP) share price dipped today. That’s despite today’s announcement of the commissioning of a new natural gas field to supply Australia’s east coast.
At close of trade today, shares in the mining giant were selling for $47.44 – down 0.25%. By comparison, the
Let’s take a closer look at today’s news and how it might be affecting the BHP share price.
BHP’s joint venture
Exxon Mobil Corporation (NYSE: XOM)’s Australian affiliate,
Esso Australia, is now up and running.
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