BHP, world's largest miner, in talks to sell multibillion oil, gas assets

Group in talks to sell global oil, gas business to Australia's Woodside after shedding some of its coal assets.

BHP Group Ltd is in talks to sell its petroleum business to Australia's top independent gas producer Woodside Petroleum Ltd in exchange for shares, the companies confirmed on Monday.

The world's biggest miner also said it had begun a strategic review of its oil and gas 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.

BHP has been facing calls to detail how and when it will exit fossil fuels. It has already sold some coal assets.

"While discussions between the parties are currently progressing,