BHP Group Ltd BHP.AX is in talks to sell its petroleum business to Australia's top independent gas producer Woodside Petroleum Ltd WPL.AX in exchange for shares, the companies confirmed.
The world's biggest miner BHP also said it had begun a strategic review of the business made up of assets in Australia, the Gulf of Mexico, Trinidad and Tobago, and Algeria that analysts value at between $10 billion and $17 billion.