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BHP Billiton CEO, Petroleum Chief Forego Bonuses After Shale Charge

By Robb M. Stewart MELBOURNE--BHP Billiton Ltd. (BHP) said Friday its chief executive and the head of its petroleum division have elected to forgo their bonuses for last financial year after the company was forced to book a US$2.84 billion impairment charge against the value of U.S. shale gas assets bought just last year. Chairman Jacques Nasser said the board supports the actions of CEO Marius Kloppers and petroleum division CEO Mike Yeager, who have shifted the focus of the business from shale gas where prices have slumped in the U.S. to liquids-rich fields onshore U.S. The company said it also will take a US$450 million charge, also before tax, against the carrying value of its Nickel West assets in Australia as a result of margin deterioration. Write to Robb M. Stewart at robb.stewart@wsj.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Bhp Billiton Sp (BBL)
DateTimeHeadline
02/24/201513:49:08LONDON MARKETS: London Stock Benchmark FTSE 100 Closes At Record...
02/24/201513:07:13BHP Billiton Digs Deep for Investors -- Update
02/24/201510:31:06EUROPE MARKETS: European Stocks Higher As Greece Lands Loan-extension...
02/24/201507:52:58LONDON MARKETS: FTSE 100 Seesaws, But BHP Billiton Outperforms
02/24/201505:30:09EUROPE MARKETS: European Stocks Waver As Greek Reforms Go Before...
02/24/201504:02:04BHP Billiton Digs Deep for Investors
02/23/201522:50:09Asian Shares Rise; Focus on Yellen, Greece
02/23/201520:56:05BHP Profit Falls as Commodity Prices Slide -- Update
02/23/201518:35:23One 'Hell of a Deal' Needed for BHP Billiton to Consider M&A...
02/23/201517:30:17BHP Billiton First-Half Profit Falls 47%
02/23/201517:11:23BHP Billiton First-Half Profit Falls 47% as Commodity Prices...
02/22/201516:52:15BHP Chief to Shed Light On Mining-Spinoff Plan
02/22/201516:41:22BHP Chief To Shed Light On Mining-Spinoff Plan
02/19/201513:38:03BHP Billiton Group 1st Half 2015 -- Forecast
02/17/201517:58:43Woodside Profit Jumps After Pumping More Oil
02/17/201501:37:03Fortescue Cuts Payouts as Profits Collapse--Update
02/16/201520:25:16Dollar's Rise Papers Over Miners' Woes

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