Why does BHP produce petroleum?
Petroleum fuels make up almost half of total energy supply worldwide.
On average, we produce approximately 300,000 barrels of oil equivalent (boe) per day from our operated and non-operated assets around the world. That’s enough petrol to fuel a medium sized car for 10,000 trips around the world.
Energy demand will rise over the next decade as populations grow, living standards increase and urbanization continues. In terms of supply, it is expected that current oil and gas reserves will continue to decline and new supply will need to be found to meet demand.
What's the future for BHP's petroleum business?
||We are planning US$700 million exploration program for future petroleum growth opportunities.
||We have a pipeline of projects and a targeted exploration campaign in the deepwater areas of Trinidad and Tobago, offshore Mexico, Gulf of Mexico and Eastern Canada.