In The Hague this week, Australia worked hard to minimise the legal liability of major emitters and fossil fuel exporters for their contribution to climate change.
The Perth-based LNG specialist operates the North West Shelf and Pluto LNG projects and is developing the Scarborough and Browse fields. It also has a 50 per cent stake in ExxonMobil's Bass Strait operation and substantial interests in the US and Mexico.
Offshore regulator NOPSEMA has had enough of BHP's "limited action" and ordered the decommissioning of three fields, adding to the cleanup bill heading towards Woodside shareholders.
Woodside Petroleum needs massive amounts of land for carbon offsets and the WA Government appears to be laying out an exclusive red carpet for the LNG giant.
Woodside and BHP have responded to the energy transition by heading in opposite directions. Here are 13 takeaways about Woodside's future. They will need some luck.
If Woodside absorbs BHP's oil & gas assets new laws ensure the massive decommissioning liability falls to one of the companies, not the Australian taxpayer, unlike the Northern Endeavour.
BHP and Woodside are negotiating the complete transfer of BHP oil and gas assets in exchange for Woodside shares, but the deal is not done, indicating last-minute brinksmanship across the negotiation table.
Two Woodside offshore workers were injured when a 500kg load fell after a lifting appliance with unapproved modifications failed but Woodside reported only one injury to the safety regulator.
Employees across Woodside lost their jobs today, with many more expected to follow, as chief executive Meg O'Neill chases a 30 per cent cut in operating costs.
Buying BHP’s Australian oil and gas assets could allow Woodside to escape its lost decade, but its shareholders and Australian taxpayers should count their fingers after the handshake.
