BP buys US shale oil and gas assets for $10.5bn

It is the UK energy giant’s largest deal in almost 20 years

Coal won’t be taken out by gas says BHP Billiton boss

The chief executive of BHP Billiton reckons it is “unlikely” coal’s world dominance as a fuel will be shouldered out of the way by gas. Speaking at a conference in Houston, Texas, Andrew Mackenzie (pictured) also suggested more than 70% of the world’s energy will come from fossil fuels by 2030. He said: “Gas is […]

BHP Billiton spells out future for ‘red hot’ shale gas

Australian oil and gas producer BHP Billiton is planning a huge investment spree in shale gas. Group and chief executive J Michael Yeager (pictured) told investors yesterday about plans to capitalise on the “red hot” shale gas industry. Talking up the huge potential for shale, he referred to one BHP site at Haynesville in the […]

BHP takeover shale specialists Petrohawk

Mining giants BHP Billiton have bought out the remaining shares of US Shale Gas specialist Petrohawk Energy for a reported $12.1bn (£7.5bn) in cash, at around US$38.75 per Petrohawk share. Approximately 97.4% of the outstanding shares (around 293.9 million) of Petrohawk were sold. Petrohawk will cease to exist on the New York Stock Exchange. BHP […]

Mining trio drill $3bn into Colombian expansion

Anglo American, Xstrata and BHP Billiton are drilling $3.1billion into expanding their jointly-owned coal mining complex in Colombia. The trio of mining companies will each contribute $437million to the expansion pot. The Cerrejon site includes an open-pit mine that brings up 32 million tonnes of coal a year, rising to 40 million tonnes after the […]

BHP swoops on Petrohawk shale

BHP Billiton has swooped on a deal to buy Petrohawk Energy. If signed off, the deal would bring three shale gas sites into BHP’s hand. The energy companies have agreed a selling price of $38.75 per share. J. Michael Yeager, BHP Billiton Petroleum Chief Executive, said: “Petrohawk has a focused portfolio of three world class […]