BHP may face large losses on shale investments, Sunday Times says BHP Billiton (BHP) faces losses that may amount to $5B on shale gas deals and may have to reduce asset valuations, reports the Sunday Times, citing analysts. Reference Link
BHP Billiton provides operational update Group production increased by 9% during the December 2014 half year with records achieved for eight operations and five commodities. Production guidance remains unchanged and we are on track to deliver Group production growth of 16% over the two years to the end of the 2015 financial year. Metallurgical coal production increased by 21% to 26 Mt in the December 2014 half year as Queensland Coal and Illawarra Coal both achieved record half year volumes. Western Australia Iron Ore production increased by 15% to a record of 124 Mt (100% basis) in the December 2014 half year as the ramp-up of Jimblebar continued and we improved the availability, utilisation and rate of our integrated supply chain. Petroleum production increased by 9% to a record 131 MMboe in the December 2014 half year supported by a 71% increase in Onshore US liquids volumes to 24.4 MMboe. Copper production decreased by 2% to 813 kt as strong underlying operating performance across the business was offset by lower grades at Antamina. Record manganese ore and alumina production was underpinned by strong performances at both Hotazel and the Alumar refinery.