BHP’s Oil, Gas Earnings Rise 38% on Surging Prices, Output Gain
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BHP Billiton Ltd., Australia’s largest oil and gas producer, said full-year petroleum earnings rose 38 percent, driven by higher prices and the fourth consecutive increase in annual output.
The oil and gas unit’s underlying earnings before interest and tax were $6.33 billion in the 12 months ended June 30, compared with $4.57 billion a year earlier, the Melbourne-based company said today in a statement. That compares with a Credit Suisse Group AG estimate of $6.26 billion.