Monday, February 28, 2011

2011- A busy year for BHP?? BHP says it sees opportunities in the oil and gas industry.

BHP is still interested in takeovers even after setting aside $80 billion for own projects.
Regulatory concerns are impeding iron-ore acquisitions, though BHP's potash, copper, and oil and gas businesses aren't constrained in the same way,  Marius Kloppers (CEO) said
BHP reported record first-half profit, has committed to spend $80 billion to expand and develop BHP's own mines and oil fields after three investments worth a total of more than $100 billion(Non Oil and Gas ventures- Potash, RioTinto bid and an iron ore venture) were knocked back in the past four years.  Still, acquisitions aren’t off its agenda.
Industry rumours are BHP may decide to pursue energy acquisitions, singling out Anadarko Petroleum Ltd., Woodside Petroleum Ltd. as possible targets.

1 comment:

  1. BHP will struggle to maintain its current output level of 500 kbbld in coming years. Thats why it is looking to make some acquisitions to increase the production. Only major project slated to come online in coming years is Macedon Pyrenees. So it would be interesting to see how BHP brings out the production growth, either through acquisitions or organic growth???



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