Trump's State Department Energy nominee Approved by Senate Panel
President Donald Trump's nominee for the top U.S. State Department job dealing with matters related to energy and the global oil industry was approved by a Senate committee on Wednesday, as the United States gears up to re-impose sanctions on Iran's oil exports. The Senate Foreign Relations Committee approved Francis Fannon, a former head of corporate affairs at mining company BHP Billiton and senior director of Murphy Oil Corp…
BHP Billiton Says it May Cut Jobs at Worsley Alumina
BHP Billiton , the world's largest diversified mining company, may cut jobs at its Worsley Alumina operations in Australia after completing a review of the business, the company said on Tuesday. The review follows last year's completion of a $3 billion expansion of the site that former CEO Marius Kloppers was reported to have described as the biggest mistake of his tenure. A…
BHP Billiton Signs LNG Supply Deal for Escondida Mine in Chile
Global miner BHP Billiton has signed a liquefied natural gas (LNG) contract for its Escondida project in Chile, helping to secure the future energy supply of the world's largest copper mine. Gas Natural Fenosa will supply LNG to the Mejillones terminal in northern Chile from 2016, when BHP's nearby Kelar power plant, currently under construction, is due to be ready. "The electricity…
BHP Billiton to invest in Mad Dog Phase 2
BHP Billiton today announced that the Board has approved expenditure of US$2.2 billion for its share of the development of the Mad Dog Phase 2 project in the Gulf of Mexico. BHP Billiton holds a 23.9 per cent participating interest in the Mad Dog field. BP, the operator, holds a 60.5 per cent participating interest, and Union Oil Company of California, an affiliate of Chevron U.S.A. Inc., holds the remaining 15.6 per cent participating interest.
BHP Billiton: Still Looking to Sell Assets
Global miner BHP Billiton is still looking to simplify its portfolio by selling some assets and its current strategy is not to acquire other companies, the chief executive of the Anglo-Australian miner said on Thursday. Andrew Mackenzie, speaking to reporters in Beijing, also acknowledged the firm's expansion of its iron ore business was too rapid and that it did not focus as much as it should have done on the underlying expansion of the overall business.
BHP Billiton Submission on Workplace Relations
BHP Billiton today welcomed the opportunity to provide a submission to the Productivity Commission as it considers improvements to the workplace relations framework in Australia. BHP Billiton’s submission includes recommendations for a number of specific enhancements to the workplace relations framework that could be made in the near term. These amendments would allow employers…
BHP Billiton, Pemex sign Trion Contract
BHP Billiton has advanced its exploration and production interests in the Gulf of Mexico by executing a contract with PEMEX Exploration & Production Mexico (Pemex) to complete work on the significant Trion discovery in Mexico. In December 2016, BHP Billiton successfully bid on the resource that, once fully appraised, is expected to be in the top 10 fields discovered in the Gulf of Mexico in the last decade.
Standard & Poor's affirms BHP Billiton's Credit Rating
Standard & Poor's affirmed its "A" rating on global miner BHP Billiton's debt, citing a change in the company's dividend policy. S&P said the miner's move to link its dividends to its operating performance materially increased its financial flexibility. BHP said on Tuesday it would pay out at least half of its underlying profit going forward, abandoning its policy of paying steady or higher dividends. Reporting By Mamidipudi Soumithri
BHP Billiton Shareholders Approve Demerger of South32
BHP Billiton shareholders approved the spin-off of the global miner's smaller assets into South32 on Wednesday, paving the way towards a listing on May 18. More than 98 percent of the votes cast by shareholders in Australia and Britain were in favour of the demerger of South32 from BHP Billiton, the company said. (Reporting by Silvia Antonioli)
BHP Announces Spin-off, Delays Share Buyback
Spin-off includes some nickel, coal. The world's biggest mining company, BHP Billiton , announced plans to spin off businesses worth an estimated $16 billion, most of them acquired in its 2001 merger with Billiton, to focus on its most profitable activities. But it held off on a share buyback, disappointing investors who had hoped to receive around $5 billion. BHP's London-listed shares fell 4 percent.
BHP Billiton Sheds Indonesian Coal Assets
BHP Billiton said on Tuesday it has agreed to sell its coal assets in Indonesia to its partner, Adaro Energy, following a slump in prices for metallurgical coal. BHP did not disclose the price for its 75 percent stake in IndoMet Coal, which it first flagged was up for sale in April. The amount is well below the $335 million Adaro paid for a 25 percent stake in IndoMet in 2010.
BHP Billiton & Pemex Agree to Exchange Deepwater Expertise
BHP Billiton and Petroleos Mexicanos (Pemex) today signed a memorandum of understanding and cooperation (MOU) to exchange technical knowledge, information, experiences and practices in activities related to the oil and gas industry. On signing the MOU, BHP Billiton Petroleum and Potash President, Tim Cutt said: “We see considerable opportunity in Mexico following the recent economic reforms…
BHP Billiton to Resume Production on GoM Platforms
Australian oil producer BHP Billiton started mobilizing staff to its Neptune and Shenzi platforms at the Gulf of Mexico after Hurricane Nate, expecting to make progress on resuming output over the next 24 hours, the firm said on Monday. BHP Billiton on Friday completed the evacuation of the oil platforms ahead of Nate, which made landfall on Saturday at the mouth of the Mississippi river. Reporting by Marianna Parraga
BHP Bullish on Caval Ridge's Prospects
Yesterday BHP Billiton Coal President, Dean Dalla Valle, was joined by the Hon. Tony Abbott MP, Prime Minister of Australia, and joint venture partner Mitsubishi in a ceremony to open the US$3.4 billion Caval Ridge Mine, which has created around 500 jobs in Queensland. Caval Ridge Mine is the BHP Billiton Mitsubishi Alliance’s (BMA)1 eighth operation in the region and will initially produce up to 5.5 million tonnes per annum of premium quality metallurgical coal.
Changes on BHP Billiton Board
BHP Billiton Chairman, Jac Nasser, today announced a number of changes to the BHP Billiton Board of Directors. Anita Frew has been appointed to the BHP Billiton Board as an independent Non-executive Director, effective as of 15 September 2015. Ms Frew has over 18 years’ experience as a director and chairman on public company boards across a range of global sectors, including chemicals, engineering and finance.
BHP Billiton, SaskPower JV to Accelerate Development of CCS
BHP Billiton and Saskatchewan-based electricity provider, SaskPower, today announced a partnership to accelerate the global development of carbon capture and storage (CCS) technology by sharing access to the data, information and lessons learned from SaskPower’s Boundary Dam facility – the world’s first full chain power sector CCS project. Under the Memorandum of Understanding (MoU) signed by the two companies…
BHP Billiton Releases Economic Disclosures Report
BHP Billiton has released a new Economic contribution and payments to governments Report as part of its long-standing commitment to transparency and voluntary disclosure. Published in conjunction with the Company’s Annual Reporting suite, the new Report discloses payments made to governments during the 2015 financial year on a country-by-country and project-by-project basis.
Bowie Taps BHP Billiton Executive As New CEO
Bowie Resource Partners, LLC (Bowie) has announced the hiring of Manie H. Dreyer, of Johannesburg, South Africa, as its new Chief Executive Officer. Dreyer comes to the Louisville based company from BHP Billiton, where since 2009, he has been President of BHP Billiton Energy Coal South Africa (BECSA), a mining operation based in Johannesburg, with 9,500 employees and contractors…
BHP Billiton Chairman Will Not Stand for Re-election
CEO says aspirational goal for "gender balance" at all levels. BHP Billiton Chairman Jac Nasser will not seek re-election at next year's annual general meeting (AGM), he announced on Thursday. Nasser said he had intended to announce his retirement last year but agreed to stay on at the mining company to provide stability as BHP Billiton responded to the Samarco dam disaster in Brazil.
Mexico Picks BHP Billiton for First Oil Farmout with Pemex
Australia's BHP Billiton on Monday won the contest to partner with Mexican state oil company Pemex in a joint venture to develop a deep water field in the country's untapped Gulf waters. A local unit of BHP Billiton won the rights to tie-up with Pemex on its light oil Trion field, less than 50 miles (80 km) from the U.S.-Mexico maritime border. BHP outbid Britain's BP, the only other company that participated…