Australia’s BHP exiting petroleum game

Australia

SYDNEY, August 16, 2021 – BHP will hand over its hydrocarbons vertical to Woodside Petroleum, the Australian resources company said on Tuesday.

BHP’s oil and gas portfolio include assets in Australia, the Gulf of Mexico, Trinidad and Tobago, and Algeria.

BHP’s petroleum operations made USD 1.62 billion in H2 2020, although this contributed only 6.2% of company’s earnings. BHP’s majority earnings come from its iron ore and copper mining.

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