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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
12/06/201611:40:00Successful Auction Encourages Mexico to Step Up Oil Opening
12/05/201613:52:02Report of Foreign Issuer (6-k)
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12/05/201613:20:00Australia's BHP Billiton Wins Bidding for Stake in Mexico's Trion...
12/05/201612:50:00BHP Billiton Wins Bidding for Stake in Mexico's Trion Oil Field
12/05/201612:37:00Australia's BHP Billiton Wins Bidding for Stake in Mexico's Trion...
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11/23/201606:10:30Report of Foreign Issuer (6-k)
11/22/201622:20:00Asian Shares Trade Higher Following Banner Day in the U.S.
11/18/201615:20:00Brazil Judge to Hear Charges in Samarco Dam Collapse
11/18/201614:31:00Brazil Judge to Hear Charges in Samarco Dam Collapse

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