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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 Subscribe to WSJ:

Stock News for Bhp Billiton Sp (BBL)
05/26/201510:31:12Report of Foreign Issuer (6-k)
05/26/201510:26:53Report of Foreign Issuer (6-k)
05/26/201510:24:30Report of Foreign Issuer (6-k)
05/26/201510:21:21Report of Foreign Issuer (6-k)
05/26/201510:17:33Report of Foreign Issuer (6-k)
05/26/201510:11:29Report of Foreign Issuer (6-k)
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05/26/201510:02:03Report of Foreign Issuer (6-k)
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05/26/201509:50:38Report of Foreign Issuer (6-k)
05/26/201509:33:56Report of Foreign Issuer (6-k)
05/26/201506:08:57Report of Foreign Issuer (6-k)
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05/22/201506:11:49Report of Foreign Issuer (6-k)
05/21/201508:54:35Australia Says No to Iron Ore Inquiry -- 2nd Update
05/21/201507:22:14Australia Says No to Iron Ore Inquiry--Update
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05/20/201513:15:12Report of Foreign Issuer (6-k)
05/20/201510:00:09SEC Charges BHP Billiton With Violating FCPA
05/20/201509:48:29SEC Charges BHP With Violating FCPA at 2008 Summer Olympics

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