BHP Ups Capital Spending to $6.9 Billion, Drops U.S. Shale, Delays Canadian Potash Project

SUGAR LAND--August 23, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--BHP Billiton plc (NYSE:BHP) (Melbourne, Australia), the world's biggest mining company, is following a positive report for fiscal year 2016 with a divestment from its U.S. shale oil and gas business, which have proven unprofitable. A recovery in commodity prices has boosted BHP and other mining giants, while oil prices have not improved enough to make BHP's shale properties anything more than a fifth wheel. BHP also will delay a multi-billion dollar investment in a Canadian potash project. Industrial Info is tracking more than $12 billion in active projects involving BHP.

Within this article: Details on BHP's plans for the coming year and some of its highest-valued developments, including those in Canada, Chile and the Gulf of Mexico.

Other companies featured: BP plc (NYSE:BP), Chevron Corporation (NYSE:CVX)