Shale Oil Mining News

Elliott tours BHP investors in renewed push for radical shake-up – sources

Representatives from Elliott have in the last month met with major BHP investors based in London, South Africa and Australia to lay out the activist fund's arguments for an overhaul of the miner.

BHP Billiton Foundation launches two new transparency projects

BHP Billiton Foundation announced Tuesday its financial support for two new global projects launched at an event held in Washington DC.

BHP hires Barclays, Citi for US shale gas divestment — sources

The business could fetch around $10 billion, two banking sources said.

EPA to scrap Obama-era rule limiting water pollution from coal-fired power plants

The move comes only five months after President Donald Trump signed an executive order undoing the previous Administration’s Clean Power Plan.

Trump goes after another of the Obama-era protection rules to favour miners

The US administration will review federal plan to protect the dwindling population of greater sage grouse in 11 western states.

U.S. shale is immune to an oil price crash in 2017

Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is effectively capping the oil price gains from that agreement.

BHP’s Mackenzie, Elliot Management face off

US activist investor steps up pressure on BHP to ditch petroleum. Mackenzie says company already knows what to do to lift value by 50% and double return on capital.

BHP ditching 'Billiton' in $10 million rebranding move

Move comes on the heels of calls from shareholders including activist investor Elliott Management and Australia’s Tribeca Investment Partners for a change of BHP's corporate structure.

Another BHP investor pressing for oil spinoff, board shake-up

The miner faces another shareholder revolt as Australia’s Tribeca has joined calls by US activist investor Elliott Management for an exit from shale to free up capital.

BHP top shareholders step up pressure for oil spinoff

They're pressing the company not only to accept a proposal by activist investor Elliott Management to spin off its US petroleum business, but to fully demerge all of its oil and gas assets.

BHP brands Elliott's overhaul proposals as flawed, costly

Activist investor Elliott's proposals to break up BHP are riddled with “major flaws” and could end up costing far more to implement than they would save, the company said.

BHP Billiton to escalate defence from Elliott with Goldman’s help

Analysts expect BHP to argue that a demerged petroleum business would need to fund offshore growth projects by raising debt. It may also contend that a stand-alone division won’t have the same ability to defer production until oil prices improve.

BHP rejects activist fund Elliott urge to spin off US oil assets

Company says the associated risks of spinning off about $22 billion of its US oil assets and listing them in New York would significantly outweigh any potential benefits.

Trump signs executive order undoing Obama's clean power plan

He has instruct has ordered the Environmental Protection Agency (EPA) to review and rewrite it.

Trump’s energy policy to focus on boosting fracking, reviving coal sector

US President Donald Trump has outlined his goals in terms of energy and mining, leaving out specifics about how exactly he aims to achieve them.

BHP Billiton to lose chairman Jac Nasser next year

He said he had intended to announce his retirement last year but chose to stay on while BHP dealt with the aftermath of the Samarco mine disaster in Brazil.

World’s top miner BHP Billiton finally sees signs of recovery in mining

BHP is not the first major player to flag green shoots in the mining industry. Caterpillar, the world's largest heavy machinery maker, said the same last month.

World’s No. 1 miner BHP Billiton put its money on oil and gas

The company believes the market is set to move back into balance in 2017, with demand to exceed global supply.

BHP takes largest-ever write-down on US shale operation

The world’s largest miner announced Friday a roughly $7.2 billion pretax charge against its U.S. onshore energy assets

Oil sands industry to remain under siege until 2020 on low crude prices

The gloomy outlook comes as the International Energy Agency predicts crude oil won't reach $80 a barrel until at least the end of the decade.

BHP Mackenzie calls US Congress to lift four-decade ban on oil exports

More than a dozen energy companies have been pressing U.S. authorities to lift the nation's four-decade moratorium on oil exports.

IEA predicts huge collapse in US oil output next year

The agency believes U.S. tight oil supply will sink by nearly 400,000 barrels a day in 2016.

BHP Billiton beats iron ore guidance, takes copper write-downs

The world's No.1 miner will continue boosting its iron ore output, adding to a global glut and keeping pressure on prices.

BHP Billiton to take a $2.8 billion write-down on US assets

With this impairment BHP will have written down its oil and gas business by more than $4 billion since 2011.

U.S. widens battle for global oil market: allows condensate exports

The government also published a list of answers to common questions about crude exports, providing guidance in a matter plagued by confusion.