Wall Street Journal | Australia's Woodside Abandons $8.4 Billion Bid to Take Over Oil Search Wall Street Journal A takeover of Oil Search promised needed growth for Woodside and a foothold in the poor nation of Papua New Guinea, which is viewed in the industry as one of the lowest-cost areas for developing liquefied-natural-gas projects. It also held out the ... Woodside drops A$11.6bn Oil Search bid Plunging oil, iron ore prices drive losses in energy and mining shares Woodside Petroleum abandons Oil Search takeover ambitions |