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Count BHP Billiton (BHP -1.2%) among big players pursuing a stake in Petrobras' (PBR -1.3%)...

Count BHP Billiton (BHP -1.2%) among big players pursuing a stake in Petrobras' (PBR -1.3%) Gulf of Mexico oil fields, a pairing that would significantly bolster BHP's already strong presence in the Gulf, WSJ reports. PBR has stakes in more than 100 exploration blocks in the Gulf; its sale plans are part of a broader effort to raise ~$15B through divestments.
Comments (1)
  • I think this is a very sound move by BHP allowing it to diversify away from iron ore and coal (particularly thermal coal) along with the benefit of geographic diversification. It will further enhance the company's profitability and further create a truly diversified resources company.
    4 Oct 2012, 12:00 AM Reply Like
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