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Total spending last year missed the company’s original target, highlighting how producers have struggled with oil’s plunge to a 12-year low.
The annual scorecard grades 30 oil and gas companies for disclosures on five criteria: toxic chemicals, water and waste management, air emissions, community impacts, and management accountability.
Supply gluts and forecasts for the slowest growth since 1990 in China have sent the price of raw materials plunging.
Ending the oil export ban makes good economic sense, BHP Billiton CEO Andrew Mackenzie told business leaders in Washington. But it also would “show the world that the U.S. remains committed to economic freedom and the promotion of global growth.”
With just five companies participating and only 33 leases sold, the turnout was the lowest western Gulf auction since area-wide leasing began in 1983, according to the Bureau of Ocean Energy Management.
BHP’s announcement comes at a time when U.S. shale is suffering because of low prices for natural gas and oil, the latter of which is hovering near $52 a barrel.
BHP Billiton Ltd. will pay $25 million to settle U.S. Securities and Exchange Commission claims that it violated the Foreign Corrupt Practices Act when it sponsored the attendance of foreign government officials at the 2008 Summer Olympic Games in Beijing.
A plunge in oil has forced companies from Royal Dutch Shell Plc to Chevron Corp. to cut or delay spending on projects that supply super-cooled gas linked to the price of crude.
Oil companies keeping thousands of barrels of crude off the market by drilling but not completing wells may soon start flooding the market again.
BHP Billiton, the Australian energy giant with a major presence in Texas, reported that its profits were down 47 percent