Exxon Mobil (XOM) and BHP Billiton (BHP) plan to spend more than $1B on natural gas processing...

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Exxon Mobil (XOM) and BHP Billiton (BHP) plan to spend more than $1B on natural gas processing facilities in southeastern Australia to handle new supplies of the fuel from offshore fields in the Bass Strait. The investment builds on the billions big oil firms are pumping into gas projects targeting an expected jump in Asian demand, and comes despite BHP's focus on cost-cutting.