BHP Group completed the merger of its oil and gas business BHP Petroleum with Woodside Petroleum. Woodside issued 914,768,948 new shares for distribution to BHP shareholders. As a result, BHP shareholders now own 48% of the combined company.

BHP Group's board of directors has decided to pay a dividend in the form of Woodside shares. BHP shareholders will receive one Woodside share for every 5,534 of their company. The securities are scheduled to be distributed on June 1, 2022.

BHP Group's IFRS net income for 6 months of fiscal year 2022 was $10.506 billion, up 2.2 times from $4.828 billion in the previous year. Revenue increased by 27% to $30.527 billion from $24.044 billion a year earlier.

BHP Group has entered into an agreement to merge its oil and gas business, BHP Petroleum, with Woodside Petroleum. Woodside will issue new shares for distribution to BHP shareholders. As a result, BHP shareholders will own 48% of the merged company. The deal is expected to close in Q2 2022.