Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Commodities  >  LME Copper Cash       

LME COPPER CASH
Mes dernières consult.
Most popular
End-of-day quote. End-of-day quote  - 08/16
6433   +0.80%
08/16DJBase Metals Gain Amid China Restrictions
08/16DJBase Metals Gain Amid Environmental Push in China
08/16DJElliott Raises its Stake in BHP Billiton -- Update
SummaryChartsNewsAnalysis 
News SummaryAll newsTweets

BHP Billiton Considers Sale of UK Petroleum Operations

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/19/2012 | 09:42am CEST
   By Robb M. Stewart 
 

MELBOURNE--BHP Billiton (>> BHP Billiton Limited) is considering exiting its U.K. petroleum operations, including crude oil and natural gas fields and a processing plant, as part of ongoing efforts to tighten the focus of its portfolio of mining and energy assets.

The Anglo-Australian company has launched a strategic review of the business and is exploring options, include the possible sale of the assets, a spokeswoman said Wednesday in an emailed reply to questions. However, she said the process was at a very early stage and no decision to sell has been made.

BHP operates Liverpool Bay, which consists of five producing offshore gas and oil fields in the Irish Sea and the Point of Ayr onshore processing plant in north Wales, and associated infrastructure. It owns a 46.1% stake in the operation, while ENI SpA (E) owns the rest.

The Melbourne-based company also holds a 16% non-operating interest in the Bruce oil and gas field in the North Sea and operates the Keith field in which it has a 31.83% stake.

Earlier this month, BHP agreed to sell a minority interest in the planned Browse gas-export project off Western Australia to PetroChina Co. (>> PetroChina Company Limited) for US$1.63 billion in cash. In recent months, it has also signed a deal to sell its diamonds business in northern Canada to Harry Winston Diamond Corp. (>> Harry Winston Diamond Corporation) for US$500 million in cash, completed the sale of a 37% stake in a South African minerals sands business to partner Rio Tinto PLC (>> Rio Tinto plc) for US$1.7 billion and said it would sell an undeveloped uranium deposit in Australia to Cameco Corp. (>> Cameco Corporation) for US$430 million.

Analysts have said the sale of assets where BHP either doesn't have a controlling interest or where the businesses lack scale and can't be significantly expanded will help support ambitious plans to spend roughly US$22 billion on BHP's U.S. shale oil and gas and other businesses this financial year.

Write to Robb M. Stewart at robb.stewart@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LME COPPER CASH
08/16DJBase Metals Gain Amid China Restrictions
08/16DJBase Metals Gain Amid Environmental Push in China
08/16DJElliott Raises its Stake in BHP Billiton -- Update
08/16 MMG : EMR Capital to take 80 percent stake in Zambia copper mine
08/15DJElliott Says Stake in BHP Billiton Rises
08/02DJRio Tinto Increases Share Buyback Plans After Jump in 1st-Half Net Profit -- ..
08/02DJRio Tinto Lifts Share Buyback Plans as 1st Half Profit Jumps
07/31DJCopper Hits Two-Year High
07/31DJCopper Hits Two-Year High
07/31DJCopper Gains on Chinese Manufacturing Gauge
More news
Chart LME COPPER CASH
Duration : Period :
LME Copper Cash Technical Analysis Chart | 4-Traders
Technical analysis trends LME COPPER CASH
Short TermMid-TermLong Term
TrendsBullishBullishBullish