Global miner BHP is planning a major overhaul, simplifying its company structure and dumping its oil and gas assets into Woodside Petroleum, creating one of the biggest energy producers in the world. It sold its Colombian coal assets to Glencore in June but has so far been unable to find a buyer for Mt Arthur, in NSW’s Hunter Valley. He said BHP should also get on with selling its thermal coal assets. “The fact is coal assets, especially east coast, are worth less every day,” Allen said. But the BHP deal would give Woodside $15bn of operating assets that it could make money from in the short term.

Source: The Guardian August 17, 2021 10:52 UTC