It is reported that wopey. US plans to acquire BHP. US's oil business for about a $20 billion (US $14.7 billion). 

It is reported that the two companies are conducting in-depth negotiations, but no agreement has been reached. According to Woodside's proposal, the company will issue shares to BHP Billiton to acquire the entire oil business, and then transfer the business to BHP Billiton's shareholders to ensure that control remains unchanged. The acquisition will make Woodside oil the number one supplier in Australia's oil and gas industry.

Last month, some media reported that BHP Billiton was considering selling its oil and gas business at the price of billions of dollars to accelerate its exit from the field of fossil fuels. A BHP spokesman declined to comment on the report.

Although BHP Billiton has always said that the oil business is one of its strategic pillars and insisted that the business will be profitable for at least the next decade. As the world tries to get rid of fossil fuels, the company hopes to avoid falling into the dilemma of increasingly difficult to sell assets.

It is reported that abandoning the thermal coal and oil business will help BHP Billiton prove to investors that it is a commodity company for the future. It is expected that BHP Billiton will soon approve the acquisition of a huge potassium fertilizer mine in Canada. Once put into operation, BHP Billiton will become an important supplier of potassium fertilizer. In addition, BHP Billiton is scheduled to announce its annual results on August 17.