BHP's gas output down 1% in Apr-Jun
Anglo-Australian multinational BHP’s natural gas production during the three months to June 30 (Q4) was 88.6bn ft3, down 1% year/year, it said on July 20.
For the 12 months that ended on June 30 (FY 2020-21), gas production totalled 341bn ft3, down 5% yr/yr. BHP said the decreased was because of planned shutdowns at Angostura in Trinidad and Tobago related to the Ruby tie-in, lower gas demand at Bass Strait in Australia and natural field decline across the portfolio. BHP's realised gas price during FY 2020-21 was up 8% yr/yr while LNG price was down 22% yr/yr.
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Total petroleum production decreased by 6% yr/yr to 103mn boe, with volumes slightly above the top end of the company’s guidance range. Production is expected to be between 99 and 106mn in FY 2021-22, BHP said.