DOCSLIB.ORG

BHP Billiton Petroleum and Growth

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
BHP Billiton Petroleum and Growth Howard Weil Energy Conference BHP Billiton Petroleum and Growth Philip Aiken President and Chief Executive Officer, Petroleum April 2002 New Orleans BHP Billiton International Operations Ekati™, world class diamond mine producing gem quality diamonds Oil and gas fields in Gulf of Mexico: Algeria Pilbara Iron Ore: highly long-life, high quality prospective ore bodies deep water World class hydrocarbons energy coal Large, low cost resources North West coking and energy Shelf LNG - coal operations Australia’s Richards Bay Escondida, world’s Minerals largest resource largest high grade the pre-eminent copper mine global producer of project titanium minerals Bass Strait oil and gas fields - high cash World class Worsley - world’s generation for decades Aluminum production lowest cost (Mozal is lowest cost alumina refinery smelter) Diversified Commodity Base (6 months ended 31 Dec 2001) EBIT by CSG EBIT by Region of Production US$1.651 billion US$1.651 billion South Petroleum Other America North 12% Southern 29% 7% Aluminium America Africa 10% 13% 15% Base Metals Rest of 4% World Europe 5% 12% Energy Coal 18% Carbon Steel Steel 3% Materials Australia 29% 43% Petroleum Financial Year 2001 Revenue: US$3.3 billion EBIT: US$1.4 billion NOPAT: US$1.0 billion Total reserves: 1.4 billion boe Average daily production: 358,700 boe/d Total production: 131 MMboe No. of staff & contractors: 1,700 Main centers: Melbourne, London, Houston, Perth Petroleum EBITDA FY 2001 (Before Abnormals) US$million 277 462 Other * NWS (Australia) Bass Strait (Australia) 633 LBD (UK) 535 US$1.9 billion * includes commodity hedging loss of US$58 million Petroleum Production • Bass Strait - Australia • North West Shelf - Australia • Laminaria/Corallina - Australia • Griffin - Australia • Liverpool Bay - United Kingdom • Bruce/Keith - United Kingdom • Gulf of Mexico - United States • Mamore - Bolivia • Zamzama - Pakistan Peer Group Benchmarking BHP Billiton's Peer Group Ranking – change in industry position over 4 years Performance based upon 3 year averages to 1996/7 and 2000/2001 100% Top Quartile Performance 75% 2000/01 50% 25% 1996/97 0% Costs Profit Margin Capital Growth Finding & Reserves Return on Production Development Replacement Petroleum Complementary Growth Strategies High Margin Oil Exploration & Production • High-margin v subsurface /technological risk • Price upside Low Risk Resources Gas (Discovered) • Positioning in resource- Global • High-growth rich countries Portfolio • Environmental • Low risk resources vs /greenhouse driver political risk Cash Generation • Maximize returns • Limited growth or capability contribution BHP Billiton Petroleum Strengths • Established international E&P business • Financial strength • Risk tolerance • Commodity diversification • Synergy with Minerals • Australian identity High Margin Exploration • Gulf of Mexico • Trinidad • West Africa – exploration • Other opportunities – access, position long term – deepwater and others Green Canyon Area Mahogany Agate EB 947 EB 910 EWING BANK Arnold Graupel EB 991 Sunday Silence EB 1006 GC 18 Boxer Navarro GC 650 El Toro 0’ ’ 50 00 GC 60 1 20 GC 82 Bullwinkle Stellaria Marquette Bison Shasta Natasha Rocky Angus Popeye Monsoon Brutus Rio Genesis Jolliet Mayday Simpatico Troika Glider ATWATER Allegheny VALLEY Typhoon Shiner GREEN CANYON Foster’s Nueces McKinley Panther King Kong ’ 0 0 Komodo Fuji 0 4 Moneypenny Paris Carver Shenzi Neptune Holstein Atlantis USA Mad Dog New Orleans Puma Houston Frampton 5000’ Mexico Gulf of Mexico Cortez Green Knoll Gulf of Mexico Exploration - Program Result FY94 - FY02 to Date Discoveries • 22% commercial Typhoon success to date Atlantis Mad Dog • 30% if tieback 23 Pluto opportunities under Exploration Boris Neptune evaluation are Bass Lite included 35 Wells 12 Projects Drilling Leverage Appraisal • 1 sanctioned in FY00 30% of wells • 2 will be promoted sanctioned in FY02 (6 of last 8 exploration • 1 sold wells drilled) Gulf of Mexico Exploration Current Inventory Kestral Deep Komodo Mississippi Canyon Shenzi Vortex TYPHOON NEARFIELD Atwater Valley Tembo Headroom Double Bass Deep Mountain Green Canyon Sumatra Gas Field Puma Kansas Oil Field Walker BHPB Acreage Ridge Apparent High Bid Leases CGOM Sale 182 - 2002 Mad Dog SPAR Facility • Wells – 16 well slots – 13 producers • Capacity – ~80 Mbbl/d – ~40 MMcf/d – ~50 Mbbl/d produced water • Drill Rig – ~5250 ton rig payload • Accommodation – 130 (drilling & operations) • Subsea System – 3 - 4 wells • Reserve Range – 200 - 450 MMboe Atlantis Development Concept Host Facility - Semi FPS • One of Gulf of Mexico’s largest fields DC 2 • Water depths in excess of 4,409' WD 6,000 feet 1 2 3 4 15 16 14 13 • Gross capacity 150,000 bbl/d DC 1 Export 6,683' WD 5 12 6 Pipelines 11 7 10 8 • BHPB share 44% 9 • Development planning underway • Sanction later 2002 Gulf of Mexico Production Forecast Range 200 150 100 Mboe/day BHP Billiton Net 50 0 FY01 FY02 FY03 FY04 FY05 FY06 Trinidad BRAZIL BENI BASIN Bolivia PACIFIC OCEAN ATLANTIC OCEAN • Previous gas discoveries - Aripo and Angostura • Recent drilling success - Canteen, Kairi • Oil development sanction 2002 • Exploration acreage extended • Core exploration potential Trinidad – Basis of Development 20002000 Aripo-1 Aripo-1 20012001 Canteen-1 Canteen-1 0 Kms 25 GasGas discovery discovery tested tested at at OilOil and and Gas Gas disc discoverovery.y. 179’ net gas pay, 200’ net 21.621.6 MMcf/d MMcf/d 179’ net gas pay, 200’ net oiloil pay pay 19991999 Angostura-1 Angostura-1 GasGas discovery discovery tested tested at at 30 MMcf/d Block 2(ab) 30 MMcf/d Block 2(c) Block 3(a) 20002000 Kairi-1 Kairi-1 & & 2002 2002 Kairi-2 Kairi-2 OilOil and and Gas Gas discovery, discovery, 435’435’ net net gas gas pay, pay, 235’ 235’ net net oiloil pay pay Gas Commercialization • North West Shelf Train 4 •Pakistan • Bass Strait – Eastern States Australia/Minerva • Other LNG –China –Korea –Taiwan Zamzama - Pakistan • Good prospectivity and growing domestic gas demand • Brownfield development based on existing production asset • Further gas sales agreements completed • Full field development of 300 MMcf/d gross with first gas in 2003 • BHPB share 47.5% and Operator Page 20 Low Risk Discovered Resources Algeria – ROD and Ohanet Other Middle East – evaluation of opportunities Algeria SPAIN Skikda • BHP Billiton entry 1989 Algiers Arzew • Successful exploration • ROD oil development TUNISIA sanctioned June 2000 BHP Exploration MOROCCO Blocks 401a/402a • Excellent relationship with SONATRACH ALGERIA • Successful bid for Ohanet wet gas field development Boukhechba • Algeria’s first Risk Service Permit Ohanet Region Contract Licence (Gas) Oil Field Gas Field • Total investment US$1.5 0 200 km Oil Pipeline Gas Pipeline billion Algerian Projects ROD oil field Ohanet •Central process facility at BRN •Wet gas development •Production 80,000 bbl/d •700 MMcf/d processing facility •First oil: 2004 •First gas target: FY 2004 •Capital Expenditure: US$500M •Capital Expenditure: US$1,030M •Partners: •JV partners: – BHP Billiton 35% – BHP Billiton (45%) (45% in 401/402) – JOOG – AGIP/ENI –Petrofac –SONATRACH – Woodside* *subject to government approval Petroleum Production Forecast Zamzama FFD …excluding exploration success NWS Ohanet Minerva 4 Train Bream P/L 2000 2001 2002 2003 2004 2005 200 Rod Atlantis Mad Dog 150 Trinidad boe 100 Gas M M 50 Liquids 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Page 24 Actual Forecast The existing focused asset portfolio Liverpool Bay, Bruce/Keith Pakistan Gulf of Mexico Algeria Trinidad Gabon North West Bolivia /Angola Shelf Bass Strait/East Australia Summary: Business Focus • Maximize existing value (now) – Bass Strait – North West Shelf/Laminaria – Liverpool Bay • Deliver projects in progress (1-3 years) –Algeria – NWS Train 4 – Bream pipeline Summary: Business Focus • Sanction and develop (3-4 years) – Mad Dog (sanctioned) – Atlantis – Trinidad – Zamzama (sanctioned) • Create new opportunities (4+ years) – Maintain portfolio quality – Meaningful size (potential >US$1 billion) – Maintain geographic focus Summary • BHP Billiton is a significant global resources company • BHP Billiton Petroleum is a well established oil and gas business with: – strong producing assets; and – substantial growth opportunities • BHP Billiton Petroleum is a significant contributor to BHP Billiton.
Load more

Recommended publications
  • BHP Economic Contribution Report 2017 1 Chief Financial Officer’S Introduction
    Economic Contribution Report 2017 We have a long-standing commitment to transparency. We are proud of the value we generate and how this contributes to building trust with the communities in which we operate. In this Report Chief Financial Officer’s Introduction 2 Tax and our 2017 Financial Statements 20 FY2017 Total economic contribution 3 Basis of Report preparation 21 Our contribution throughout the value chain 6 Glossary 22 Approach to transparency and tax 9 Independent auditor’s report to the Directors Our payments to governments 14 of BHP Billiton Plc and BHP Billiton Limited 23 Corporate Directory 24 BHP Billiton Limited. ABN 49 004 028 077. Registered in Australia. Registered office: 171 Collins Street, Melbourne, Victoria 3000, Australia. BHP Billiton Plc. Registration number 3196209. Registered in England and Wales. Registered office: Nova South, 160 Victoria Street London SW1E 5LB United Kingdom. Each of BHP Billiton Limited and BHP Billiton Plc is a member of the Group, which has its headquarters in Australia. BHP is a Dual Listed Company structure comprising BHP Billiton Limited and BHP Billiton Plc. The two entities continue to exist as separate companies but operate as a combined Group known as BHP. The headquarters of BHP Billiton Limited and the global headquarters of the combined Group are located in Melbourne, Australia. The headquarters of BHP Billiton Plc are located in London, United Kingdom. Both companies have identical Boards of Directors and are run by a unified management team. Throughout this publication, the Boards are referred to collectively as the Board. Shareholders in each company have equivalent economic and voting rights in the Group as a whole.
    [Show full text]
  • Empirical Inference of Related Trading Between Two Securities: Detecting Pairs Trading, Merger Arbitrage, and Strategy Rules*
    Empirical inference of related trading between two securities: Detecting pairs trading, merger arbitrage, and strategy rules* Keith Godfrey The University of Western Australia Working paper: 5 September 2013 The traditional approach to studying pairs trading is to simulate profitability using ex-post historical prices. I study the actual trades reported anonymously in security pairs and build statistical inferences of related trading. The approach is based on the time differences between trades. It can distinguish intrinsically related securities from pseudo-random sets, find stocks involved in merger arbitrage in massive sets of paired index constituents, and infer dominant trading rules of mean reversion algorithms. Empirical inference of related trading can enable further studies into pairs trading, strategy rules, merger arbitrage, and insider trading. Keywords: Inferred trading, empirical inference, pairs trading, merger arbitrage. JEL Classification Codes: G00, G10, C10, C40, C60 The availability of intraday trading or “tick” data with time resolution of a millisecond or finer is opening many avenues of research into financial markets. Analysis of two or more streams of tick data concurrently is becoming increasingly important in the study of multiple-security trading including index tracking, pairs trading, merger arbitrage, and market-neutral strategies. One of the greatest challenges in empirical trading research is the anonymity of reported trades. Securities exchanges report the dates, times, prices, and volumes traded, without identifying the traders. In studies of a single security, this introduces uncertainty of whether each market order that caused a trade was the buy or sell order, and there are documented approaches of inference such as Lee and Ready (1991).
    [Show full text]
  • Chapter 8: Colombia
    8 Colombia 8.1 Summary of Coal Industry 8.1.1 ROLE OF COAL IN COLOMBIA Coal accounted for eight percent of Colombia’s energy consumption in 2007 and one-fourth of total exports in terms of revenue in 2009 (EIA, 2010a). As the world’s tenth largest producer and fourth largest exporter of coal (World Coal, 2012; Reuters, 2014), Colombia provides 6.9 percent of the world’s coal exports (EIA, 2010b). It exports 97 percent of its domestically produced coal, primarily to the United States, the European Union, and Latin America (EIA, 2010a). Colombia had 6,746 million tonnes (Mmt) of proven recoverable coal reserves in 2013, consisting mainly of high-quality bituminous coal and a small amount of metallurgical coal (Table 8-1). The country has the second largest coal reserves in South America, behind Brazil, with most of those reserves concentrated in the Guajira peninsula in the north (on the country’s Caribbean coast) and the Andean foothills (EIA, 2010a). Its reserves of high-quality bituminous coal are the largest in Latin America (BP, 2014). Table 8-1. Colombia’s Coal Reserves and Production – 2013 Anthracite & Sub-bituminous & Total Global Indicator Bituminous Lignite (million Rank (million tonnes) (million tonnes) tonnes) (# and %) Estimated Proved Coal 6,746.0 0.0 67469.0 11 (0.8%) Reserves (2013) Annual Coal Production 85.5 0.0 85.5 10 (1.4%) (2013) Source: BP (2014) Coal production for export occurs mainly in the northern states of Guajira (Cerrejón deposit), Cesar, and Cordoba. There are widespread small and medium-size coal producers in Norte de Santander (metallurgical coal), Cordoba, Santander, Antioquia, Cundinamarca, Boyaca, Valle del Cauca, Cauca, Borde Llanero, and Llanura Amazónica (MB, 2005).
    [Show full text]
  • Annual Review and Summary Financial Statements 2010 Shareholder Information Continued
    Centrica plc Registered office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD Company registered in England and Wales No. 3033654 www.centrica.com Annual Review and Summary Financial Statements 2010 Shareholder Information continued SHAREHOLDER SERVICES Centrica shareholder helpline To register for this service, please call the shareholder helpline on 0871 384 2985* to request Centrica’s shareholder register is maintained by Equiniti, a direct dividend payment form or download it from which is responsible for making dividend payments and www.centrica.com/shareholders. 01 10 updating the register. OVERVIEW SUMMARY OF OUR BUSINESS The Centrica FlexiShare service PERFORMANCE If you have any query relating to your Centrica shareholding, 01 Chairman’s Statement please contact our Registrar, Equiniti: FlexiShare is a ‘corporate nominee’, sponsored by Centrica and administered by Equiniti Financial Services Limited. It is 02 Our Performance 10 Operating Review Telephone: 0871 384 2985* a convenient way to manage your Centrica shares without 04 Chief Executive’s Review 22 Corporate Responsibility Review Textphone: 0871 384 2255* the need for a share certificate. Your share account details Write to: Equiniti, Aspect House, Spencer Road, Lancing, will be held on a separate register and you will receive an West Sussex BN99 6DA, United Kingdom annual confirmation statement. Email: [email protected] By transferring your shares into FlexiShare you will benefit from: A range of frequently asked shareholder questions is also available at www.centrica.com/shareholders. • low-cost share-dealing facilities provided by a panel of independent share dealing providers; Direct dividend payments • quicker settlement periods; Make your life easier by having your dividends paid directly into your designated bank or building society account on • no share certificates to lose; and the dividend payment date.
    [Show full text]
  • Jacobs MCM- Quantitative Cost Analysis and Business Case Of
    Radi oacti ve Waste S tor age and Dispos al F acilities in S out h A ustr alia – Quantit ati ve C ost A nal ysis and Business C as e Radioactive Waste Storage and Disposal Facilities in South Australia – Quantitative Cost Analysis and Business Case Radioactive Waste Storage and Disposal Facilities in South Australia – Quantitative Cost Analysis and Business Case Project no: IW104700 Document title: Radioactive Waste Storage and Disposal Facilities in South Australia – Quantitative Cost Analysis and Business Case Revision: Draft Report V1 Date: 09 February 2016 Client name: South Australian Nuclear Fuel Cycle Royal Commission Client no: Jacobs Report (0.4) Project manager: Tim Johnson Authors: Darron Cook, Charles McCombie, Neil Chapman, Nigel Sullivan, Rohan Zauner, Tim Johnson File name: J:\IE\Projects\03_Southern\IW104700\21 Deliverables\Reformatted Docs for Client Release\09022016 Combined Papers V1.0.docx Jacobs Group (Australia) Pty Limited ABN 37 001 024 095 Floor 11, 452 Flinders Street Melbourne VIC 3000 PO Box 312, Flinders Lane Melbourne VIC 8009 Australia T +61 3 8668 3000 F +61 3 8668 3001 www.jacobs.com COPYRIGHT: The concepts and information contained in this document are the property of Jacobs Group (Australia) Pty Limited. Use or copying of this document in whole or in part without the written permission of Jacobs constitutes an infringement of copyright. Document history and status Revision Date Description By Review Approved V0 19 Jan 2016 For Client review Darron Darron Cook Darron Cook, team Cook V1 9 February For public consultation Tim Johnson Darron Cook Darron Cook IW104700 i Radioactive Waste Storage and Disposal Facilities in South Australia – Quantitative Cost Analysis and Business Case Contents Executive Summary ..............................................................................................................................................
    [Show full text]
  • BHP Billiton Iron Ore Management Approach
    BHP Billiton Iron Ore Orebody 32 East AWT – Environmental Referral Document BHP Billiton Iron Ore management approach 1.1 Environmental management overview BHP Billiton has developed a Company Charter and Sustainable Development Policy for its operations. The Company Charter and Sustainable Development Policy (BHP Billiton Iron Ore, 2013a) are guiding resources for maintaining an emphasis on health, safety, environment and community and clarifying a broader commitment to aspects of sustainability including biodiversity, human rights, ethical business practices and economic contributions at all BHP Billiton sites. To interpret and support the Company Charter and BHP Billiton Iron Ore’s Sustainable Development Policy, BHP Billiton Iron Ore has developed an Environmental Governance Hierarchy, an Environmental Management System and is currently developing a series of Regional Management Strategies. 1.2 Environment Governance Hierarchy BHP Billiton Iron Ore now operates under an Environmental Governance Hierarchy (Figure 1). The Environment Governance Hierarchy provides the processes and practices that enable BHP Billiton Iron Ore to achieve its environmental objectives, reduce its environmental impacts and increase its operating efficiency. It enables environmental legal compliance to be undertaken and audited and provides for continual improvement in environmental performance. Figure 1: BHP Billiton Iron Ore Environmental Governance Hierarchy As shown in Figure 1, BHP Billiton Iron Ore’s environment governance hierarchy is broadly comprised of three tiers, representative of BHP Billiton Iron Ore’s different levels of management – BHP Billiton (corporate level), BHP Billiton Iron Ore (Business Unit level) and site specific (operations level) – and reflective of BHP Billiton’s top-down approach to environmental management across the Group.
    [Show full text]
  • Rio Tinto BHP, Tesco, Sainsbury, Arcelormittal, National Grid
    Quarterly Engagement Rio Tinto Report July-September BHP, Tesco, 2020 Sainsbury, ArcelorMittal, National Grid 2 LAPFF QUARTERLY ENGAGEMENT REPORT | JULY-SEPTEMBER 2020 lapfforum.org CLIMATE EMERGENCY Puutu Kunti Kurrama and Pinikura Aboriginal Corporation Rio Tinto under pressure from investors over Juukan Gorge As LAPFF has been learning more about “My interaction with Mr. Rio Tinto’s involvement in the destruc- Thompson, in his roles as Chair tion of the historically significant caves of both Rio Tinto and 3i, has been at Juukan Gorge in Western Australia, there have been increasing concerns positive thus far. However, I sense about the company’s corporate govern- that investors are losing confidence ance practices. Consequently, the Forum in his leadership and in his board at – along with other investor groups, most Rio Tinto. It will be a long road back What happened at prominently the Australasian Centre for for the company.” Juukan Gorge? Corporate Responsibility (ACCR) - has been pushing the company to review its Cllr Doug McMurdo In May, Rio Tinto destroyed 46,000-year- corporate governance arrangements. old Aboriginal caves in the Juukan One of the main strategies in this Gorge region of Western Australia. The engagement has been to issue press responding to information issued by explosions were part of a government releases citing LAPFF’s concerns as vari- Australian Parliamentary inquiries into sanctioned mining exploration in ous details of Rio Tinto’s practices were this matter. There appears to be increas- the region. The caves are of cultural revealed through a range of investiga- ing evidence of corporate governance fail- significance to the Puutu Kunti tions.
    [Show full text]
  • BP Transforms Its US Onshore Oil and Gas Business, Acquiring World-Class Unconventional Assets from BHP 26 July 2018
    BP transforms its US onshore oil and gas business, acquiring world-class unconventional assets from BHP 26 July 2018 Acquisition accretive to earnings and cash flow, delivered within existing financial frame Company increases dividend for first time in 15 quarters Upgrades and repositions BP’s US onshore business Brings advantaged oil and gas assets in world-class basins Adds 190,000 boe/d production and 4.6 billion boe discovered resources Boosts liquids share of BP’s US onshore production and resources Offers growth into the next decade Creates significant value Accretive to earnings and cash flow on a per share basis Increases Upstream free cash flow target by $1 billion to $14-15 billion in 2021 Generates estimated pre-tax synergies of over $350 million a year Fully accommodated within existing financial frame Total cash consideration of $10.5 billion – 50% on completion, 50% deferred over six months Up to $5-6 billion of additional divestments planned to fund share buybacks of up to $5-6 billion over time Unchanged financial frame of $15-17 billion annual organic capital expenditure to 2021, and gearing of 20-30% BP transforms its US onshore oil and gas business, acquiring world-class unconventional assets from BHP Page | 1 Strong free cashflow outlook supports dividend rise for second quarter 2018 2.5% rise to 10.25c per ordinary share is first dividend increase since third quarter 2014 In a move that will upgrade and materially reposition its US onshore oil and gas business, BP has agreed to acquire a portfolio of world-class unconventional oil and gas assets from BHP.
    [Show full text]
  • How Do Extractive Companies Measure and Report Their Social Performance? Review of Approaches to Impact Assessment
    ECONOMIC AND PRIVATE SECTOR PROFESSIONAL EVIDENCE AND APPLIED KNOWLEDGE SERVICES HELPDESK REQUEST How do extractive companies measure and report their social performance? Review of approaches to impact assessment Carolin Williams ODI April 2014 How do extractive companies measure and report their social performance? EPS-PEAKS is a consortium of organisations that provides Economics and Private Sector Professional Evidence and Applied Knowledge Services to the DfID. The core services include: 1) Helpdesk 2) Document library 3) Information on training and e-learning opportunities 4) Topic guides 5) Structured professional development sessions 6) E-Bulletin To find out more or access EPS-PEAKS services or feedback on this or other output, visit the EPS- PEAKS community on http://partnerplatform.org/eps-peaks or contact Yurendra Basnett, Knowledge Manager, EPS-PEAKS core services at [email protected]. Disclaimer Statement: The views presented in this paper are those of the authors and do not necessarily represent the views of Consortium partner organisations, DFID or the UK Government. The authors take full responsibility for any errors or omissions contained in this report. 2 How do extractive companies measure and report their social performance? Table of Contents 1 Query and approach 4 2 Individual company level reviews of social performance reporting 6 2.1 Anglo American 6 2.2 BG Group 11 2.3 BHP Billiton 13 2.4 BP 17 2.5 Newmont 19 2.6 Rio Tinto 21 2.7 Royal Dutch Shell 24 2.8 Tullow Oil 27 3 Headlines from reviews of companies’ social performance reporting 30 3 How do extractive companies measure and report their social performance? 1 Query and approach Extractive companies tend to spend significant amounts on community based development projects to improve their social performance.
    [Show full text]
  • BHP OPERATIONAL REVIEW for the NINE MONTHS ENDED 31 MARCH 2021 Note: All Guidance Is Subject to Further Potential Impacts from COVID-19 During the 2021 Financial Year
    Release Time IMMEDIATE Date 21 April 2021 Release Number 05/21 BHP OPERATIONAL REVIEW FOR THE NINE MONTHS ENDED 31 MARCH 2021 Note: All guidance is subject to further potential impacts from COVID-19 during the 2021 financial year. Record production was achieved at Western Australia Iron Ore (WAIO) and record average concentrator throughput was delivered at Escondida. Production guidance for the 2021 financial year remains unchanged for petroleum and iron ore. Copper guidance has increased to between 1,535 kt and 1,660 kt and reflects stronger than expected performance at Escondida. Metallurgical coal guidance has been reduced to between 39 and 41 Mt as a result of significant wet weather impacts during the December 2020 and March 2021 quarters. Energy coal guidance has been reduced to between 18 and 20 Mt as a result of significant weather impacts at New South Wales Energy Coal (NSWEC) and lower than expected volumes at Cerrejón. Full year unit cost guidance(1) (based on exchange rates of AUD/USD 0.70 and USD/CLP 769) remains unchanged for Petroleum and WAIO. Unit costs for Escondida have been lowered to be between US$0.95 and US$1.10(1) per pound, reflecting strong production and lower deferred stripping costs. Unit costs for Queensland Coal have been increased to be between US$74 and US$78(1) per tonne, reflecting lower expected volumes for the full year. The Bass Strait West Barracouta gas project achieved first production in April 2021, and is on schedule and budget. Our major projects under development are also progressing to plan.
    [Show full text]
  • 27 February 2020 State Development, Natural Resources
    Mineral and Energy Resources and Other Legislation Amendment Bill 2020 Submission No 056 BHP Level 14, 480 Queen Street Brisbane, Queensland 4000 Australia T bhp.com 27 February 2020 State Development, Natural Resources and Agricultural Industry Development Committee Parliament House George Street Brisbane Qld 4000 By email: [email protected] Mineral and Energy Resources and Other Legislation Amendment Bill 2020 Dear Committee Secretary, Thank you for the opportunity to make a submission in relation to the Mineral and Energy Resources and Other Legislation Amendment Bill 2020 (Qld) (the Bill). We are supportive of policy steps that improve health and safety outcomes, and we welcome the opportunity to comment on the Bill. However, our strongly held view is that, if the Bill is passed in its current form, it will not meet the objective of strengthening the safety culture in Queensland’s resources sector, and will result in poorer safety outcomes across the industry. 1. Safety Our highest priority is the safety of our people, including our employees and contractors and the communities in which we operate. A strong safety culture depends on an ability to clearly and openly share information. In order to achieve real ongoing safety improvements, everyone must be empowered to speak up and take action if they see something unsafe. We actively participated in the Queensland mining industry’s safety re-set during July and August 2019. More than 11,600 employees and contractors across our Queensland operations took part in approximately 400 sessions, which provided a forum for full and frank conversations about safety.
    [Show full text]
  • Centrica Annual Report 2012
    Centrica plc plc Centrica Annual Report and Accounts 2012 INTEGRATED ENERGY CENTRicA PLC Registered office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD Company registered in England Annual Report and Accounts 2012 and Wales No. 3033654 centrica.com Centrica plc Annual Report and Accounts 2012 Centrica plc Annual Report and Accounts 2012 INTEGRATED ENERGY IS WHAT WE DO. It means constantly exploring new ways to source, procure and generate an affordable supply of energy. It means integrating innovation and technology into the home, giving our customers access to energy and services, whenever they need it. It means working with governments, regulators and partners to make the right things happen at the right time. Most important of all, it means empowering our customers to take control of their energy needs as we work towards a low carbon future. INTEGRATED ENERGY FROM CENTRicA. This report is printed on Revive 100 Silk which is made from 100% recycled post- consumer fibre that is Totally Chlorine Free. This paper has been independently certified according to the rules of the Forest Stewardship Council (FSC®). ONLINE Designed and produced by INTEGRATED ENERGY Photography by David Hares, Mike What it means to us How we achieve it Abrahams, Igor Emmerich, Charlie Fawell Disclaimer and David Partner. This Annual Report and Accounts does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any Centrica shares or other securities. Printed by CPI Colour Limited Use your smartphone or tablet This Annual Report and Accounts contains certain forward-looking statements with respect to the financial ISO14001, FSC certified and CarbonNeutral®.
    [Show full text]