On 1 June 2022, Woodside Energy Group Ltd announced the completion of its merger with the oil and  gas portfolio of BHP Group Ltd, creating a global top-10 independent energy company. Conduct your  own research and analysis on the merger and address the following questions. 

How did the stock market react to the initial announcement surrounding the merger between  Woodside and BHP Petroleum? Did the market think this merger creates value for the respective  shareholders of Woodside and BHP?

Woodside suffered a 48.97 per cent shareholder vote against its climate report at its annual general  meeting of shareholders in May 2022 just before the completion of the merger.

Why do you think so many shareholders are not happy about the climate strategy adopted by Woodside? 

In your own  view, do you think the merger with BHP's petroleum assets will facilitate or hamper Woodside's effort to achieve its emissions targets?