Woodside Petroleum Limited
(ASX:WPL) has scored the green light to buy up to $US4.5 billion of oil and gas assets from US based Apache Corporation.
The oil and gas producer last year revealed plans to buy Apache’s Wheatstone LNG project and Balnaves oil interests in Australia and Kitimat LNG project interests in Canada.
The Australian Competition and Consumer Commission (ACCC) has today announced it will not oppose the proposed acquisition.
The ACCC expects Woodside Petroleum will continue to face strong competition from other suppliers in the market following the purchase of Apache’s assets.
Woodside Petroleum boosted its net profit by 38 per cent to $3.06 billion over the full 2014 financial and calendar years.
