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LON100:BLT, Jul 16, 09:47 UTC

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Monday, July 09


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BP Turns Out to be Leading Bidder for BHP's U.S. Assets

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BP Turns Out to be Leading Bidder for BHP's U.S. Assets. Other bidders for the Melbourne-based, Australian mining conglomerate’s assets included a group of Royal Dutch Shell plc RDS.A and The Blackstone Group L.P. (BX), a consortium of Chevron Corporation (CVX) and Warburg Pincus, as well as Apollo Global Management, LLC (APO).Per the bids received, BHP’s U.S. unit has been valued at about $9 billion. Per Reuters, BP submitted the highest offer worth more than $10 billion. However, the exact terms and other details related to BP’s offer have not been revealed yet, and an agreement between the two parties is anticipated in the coming weeks. BHP is believed to have a preference for selling the assets in a single package.It has been a year since BHP announced its plan to divest the U.S. unit, mainly under pressure from activist investor Elliott Management Corp., which had targeted the company’s venture into U.S. oil and gas exploration.Several oil giants including Exxon Mobil Corporation XOM, Apache Corporation (APA), Pioneer Natural Resources Company (PXD) have significant exposure in the Permian Basin. However, BP lacked presence in this acreage for long.

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Friday, July 06


In The News

BHP Billiton PLC (LON100:BLT) article volume is higher than usual

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BP leads bidding for BHP's US energy assets view top sourcebeta

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afr.com
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BP Is Front-Runner to Buy BHP's U.S. Shale Unit

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BP Plc has emerged as the front-runner to buy BHP Billiton Ltd.’s onshore oil and gas operations in the U.S., according to a person familiar with the matter. The London-based oil major has made the highest offer for the assets, which BHP prefers selling in a single package, said the person, who asked to not be identified because the matter isn’t public. The Australian mining conglomerate, based in Melbourne, received initial offers about two months ago from BP, Chevron Corp. and Royal Dutch Shell Plc, among others, people familiar with the matter said in June.

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Exclusive: BP in lead to acquire BHP's U.S. onshore shale assets: sources

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The move represents a big bet by BP on U.S. oil and gas production at a time when energy prices are rebounding. It would allow it to significantly rebalance its business with oil production, after focussing largely on natural gas assets. BP is the front-runner in the auction for the assets run by BHP, and could reach a deal in coming weeks, the sources added, cautioning that an agreement is not certain and it is possible that negotiations could end unsuccessfully. In 2015, BP began operating its onshore U.S. business as a separate entity to make it more competitive. Since then, BP has expanded the business to include acreage in the Haynesville and Bossier shale plays near the Texas–Louisiana border. However, BP's expansion in U.S. shale fell behind many of it peers. When others were building out their presence onshore, BP's focus was on the aftermath of the Deepwater Horizon oil-spill disaster in the Gulf of Mexico, which has forced it to pay tens of billions of dollars in damages and restitution since 2010. If completed, the acquisition of BHP's acreage would be transformational for BP's unit, adding oil-rich wells in the Permian and Eagle Ford basins of Texas.

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EXPLAINER-Labor talks at BHP´s Escondida mine in Chile enter 'home stretch'

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SANTIAGO, July 6 (Reuters) - Labor negotiations at BHP Billiton Plc Escondida copper mine in Chile (Stuttgart: 704599.SG - news) , the world's largest, are entering into the final three weeks before a 30-month contract expires at the end of July. The closely watched talks come little more than one year after failure to reach a labor deal at the sprawling deposit led to a 44-day strike that jolted the global copper market. HOW ARE TALKS GOING? BHP and the union have reached agreement on about one-fifth of the "points of interest," raised by either party, according to an internal union document seen by Reuters that summarized progress in negotiations during the month of June. BHP has called the bonus "exaggerated," and said it exceeded even the demands of the union in 2013, with copper prices approaching record highs. But the generally robust copper price and strengthened labor laws suggest the union has substantial leverage in the ongoing Escondida negotiations.

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Why BHP Billiton PLC Stock Rallied 11.5% in the First Half of 2018

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Matthew DiLallo, The Motley FoolMotley FoolJuly 6, 2018, 12:59 PM GMT. What happened. BHP Billiton (NYSE: BBL)(NYSE: BHP) enjoyed a strong first half of the year, according to data provided by S&P Global Market Intelligence, as shares rose 11.5%. Those weaker metal prices will impact BHP's earnings in the near term since iron ore contributed 38% of its underlying profitability in the second half of last year while copper chipped in with 28%. However, the uptick in oil, which provided 20% of BHP's profits, will help offset some of this impact. Now what. While BHP stock is already off to a good start in 2018, several factors could give it the fuel to continue rising. For starters, oil remains red-hot and could have more upside ahead.

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In The News

BHP Billiton PLC (LON100:BLT) article volume is higher than usual

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Reaffirmed: BHP Billiton PLC (LON:BLT) Sell Rating Kept by Liberum Capital; GBX 1300.00 Target in Place view top sourcebeta

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whatsonthorold.com
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A.I. is going to play a big role at mining powerhouse BHP

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is going to play a big role at mining powerhouse BHP. From voice-activated lights to watches that analyze the way we sleep, our lives are becoming increasingly intertwined with smart, sophisticated technology. The mining sector is no different, with a raft of innovations helping to drive change and transform the way that some of the sector’s big players operate. Although mining business BHP can trace its roots back to the mid-19th century, it is embracing a number of technologies in order to move with the times. These include “smart caps” that use technology to analyze brain waves so as to monitor worker fatigue, to autonomous trucks.

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A.I. is going to play a big role at mining powerhouse BHP

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is going to play a big role at mining powerhouse BHP. From voice-activated lights to watches that analyze the way we sleep, our lives are becoming increasingly intertwined with smart, sophisticated technology. The mining sector is no different, with a raft of innovations helping to drive change and transform the way that some of the sector’s big players operate. Although mining business BHP can trace its roots back to the mid-19th century, it is embracing a number of technologies in order to move with the times. These include “smart caps” that use technology to analyze brain waves so as to monitor worker fatigue, to autonomous trucks.

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uk.finance.yahoo.com
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BHP, workers at Escondida mine in Chile 'far from agreement'

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(Reuters) - Negotiations between workers and BHP Billiton Plc at the Escondida copper mine in Chile, the world's largest, are "far from reaching agreement" with less than three weeks to go before the negotiation deadline, a union official told Reuters on Thursday. The official, Carlos Allendes, said the union was preparing a $400,000 (£302,755) emergency fund to support workers if they opt to strike after the company offers its final proposal on July 24. He condemned the AngloAustralian miner for exhibiting "the same stubbornness" that last year led to a 44-day strike that jolted the global copper market. Allendes said that despite BHP's setting up a negotiating table in mid-June, conversation with its managers had been "scarce."

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