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BHP Billiton Ltd., the world’s largest mining company, may consider acquisitions within a year, saying it sees opportunities in the oil and gas industry.
Regulatory concerns are impeding iron-ore acquisitions, though BHP’s potash, copper, and oil and gas businesses aren’t constrained in the same way, Chief Executive Officer Marius Kloppers said on the “Inside Business” program broadcast Sunday on the Australian Broadcasting Corp.
Kloppers, who reported record first-half profit last week, has committed to spend $80 billion to expand and develop BHP’s own mines and oil fields after three investments worth a total of more than $100 billion were knocked back in the past four years. Still, he said on today’s program that while asking prices for some assets are “very high,” acquisitions aren’t off his agenda.
“Cycles change,” Kloppers said. “In six months’ time or a year’s time, something else may come up. The situation may change. The oil and gas market is a very large one where there may be opportunities going forward.”
(Bloomberg)
Regulatory concerns are impeding iron-ore acquisitions, though BHP’s potash, copper, and oil and gas businesses aren’t constrained in the same way, Chief Executive Officer Marius Kloppers said on the “Inside Business” program broadcast Sunday on the Australian Broadcasting Corp.
Kloppers, who reported record first-half profit last week, has committed to spend $80 billion to expand and develop BHP’s own mines and oil fields after three investments worth a total of more than $100 billion were knocked back in the past four years. Still, he said on today’s program that while asking prices for some assets are “very high,” acquisitions aren’t off his agenda.
“Cycles change,” Kloppers said. “In six months’ time or a year’s time, something else may come up. The situation may change. The oil and gas market is a very large one where there may be opportunities going forward.”
(Bloomberg)
