Exxon Mobil Mulling Acquisition of Australia’s Woodside Energy, Bloomberg Reports

Exxon Mobil Corporation (NYSE:XOM) is included among the 14 Best S&P 500 Stocks to Buy Now According to Analysts.

Exxon Mobil Mulling Acquisition of Australia's Woodside Energy, Bloomberg Reports

Exxon Mobil Corporation (NYSE:XOM) is one of the largest integrated fuels, lubricants, and chemical companies in the world.

A Bloomberg report on June 12 indicated that Exxon Mobil Corporation (NYSE:XOM) is currently exploring potential acquisition targets, including Australia’s Woodside Energy, to bolster its position in the growing LNG and Asian markets. According to people familiar with the matter, the energy behemoth has been holding early-stage discussions internally, and Woodside is one of the targets currently being evaluated.

However, these deliberations are still at a preliminary stage, and there is no certainty that they will lead to a formal offer. Both Exxon and Woodside declined to comment on the matter.

Exxon Mobil Corporation (NYSE:XOM)’s last major acquisition occurred in 2024 when the company purchased Pioneer Natural Resources for roughly $60 billion. Woodside is the largest LNG exporter in Australia, and a move for the company would expand Exxon’s presence in a sector in which it has lagged rivals like Shell and TotalEnergies.

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