Australian oil and gas giant Woodside Energy has dismissed market rumours regarding a potential multi-billion-dollar takeover by Exxon Mobil.
The company issued a statement refuting reports that it was a prime acquisition target for the US oil major. The response followed intense media speculation, sparked by a Bloomberg News report, which suggested Exxon Mobil was actively evaluating several international targets, including Woodside, to bolster its global portfolio.
“In response to recent media speculation, Woodside is not aware of any proposal and confirms it is not in discussions regarding a potential transaction with Exxon Mobil Corporation,” the company stated.
The initial report, which cited sources familiar with the matter, suggested that a move for Woodside would significantly strengthen Exxon’s foothold in the lucrative LNG sector.
Major global energy companies increasingly view LNG as a critical growth engine, driven by surging international power demands and rising gas consumption.
While Woodside chose to formally clear the air via its market announcement, Exxon Mobil did not immediately respond to requests for comment regarding its broader expansion plans.
The speculation underscores the intensifying global interest in Australian energy assets, particularly in the LNG space, as multinational firms look to secure long-term supply chains.
The Western Australian government would block any takeover of Woodside that would involve moving its headquarters, according to the state’s Premier Roger Cook.
“The WA government will fight hard to keep Woodside Western Australian,” Cook said in an emailed statement to Reuters.
“Overseas interests have sought to acquire Woodside before and the reasons it was previously defeated have not changed.”
