Woodside targets Oil Search in $8bn takeover bid
Australia’s Woodside Energy is making an opportunistic A$11.6bn ($8.1 bn) takeover offer for Papua New Guinea (PNG)-focused Oil Search
Aside from pursuing an active exploration campaign targeting some 7 trillion cf of gas Australia-listed Oil Search has a prized 29% stake in the ExxonMobil-led PNG liquefied natural gas export project. The Australian LNG developer is offering one Woodside share for four Oil Search shares, implying an offer price of A$7.65 a share or a 13% premium. Analysts believe this is too low and that Oil Search’s management will be unlikely to accept such an opportunistic bid. They are tipped to push for a much higher offer closer to a 25-30% premium. On 9 September, Oil Search shares were trading above the offer price, closing at A$7.85, reflecting an expectation among investors of more to come. The pr
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
