The global mining company was forced to act after the dramatic plunge in the oil price left its expensive US exploration commerce weighing on the bottom line BHP Billiton has been forced to write down the value of its onshore American oil and gas assets by more than 30% as it factors in the slump in crude oil prices.
The company said on Friday that it expected to prefer an impairment charge of £5bn ($US7.2bn or $A10.3bn) in its half year results, its second writedown on its US oil and gas assets in six months. Continue reading...
Source: theguardian.com