I am becoming increasingly convinced that BHP Billiton is a remarkable company that deserves to be victorious in its efforts to acquire Rio Tinto.
The latest jewel in the crown to attract attention is BHP Billiton’s oil business. At a recent briefing the company said it had been building its oil business to the extent that according to chief executive, Marius Kloppers, it had the assets of a super major in a mid-sized oil company.
Production is climbing steeply with output reaching 415,000 barrels a day recently against an average around 300,000 barrels a day in recent years. Not surprisingly, with production costs ranging between $6 and $12 a barrel, the company said its figures in the first half-year would be staggering.
Creating the world's largest company
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