‘You Wouldn’t Do It’: BHP Chair Regrets $20 Billion on Shale

30 Jun 2017   Shale Oil

BHP Billiton Ltd. Chairman Jacques Nasser said the timing of its $20 billion spree into U.S. shale in 2011 was a misstep and that if the miner could turn the clock back it wouldn’t have invested in the assets. (Bloomberg) — BHP Billiton Ltd. Chairman Jacques Nasser said the timing of its $20 billion spree into U.S. shale in 2011 was a misstep and that if the miner could turn the clock back it wouldn’t have invested in the assets. The comments from Nasser, who will pass over the chairman’s baton to its youngest director Ken MacKenzie on Sept. 1, follow similar remarks from Chief Executive Officer Andrew Mackenzie, who said in May the deals were poorly timed. “In terms of shale, if you had to turn the clock back, and if you knew what we knew today, you wouldn’t do it,” Nasser, who took up his role in […]

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