BHP Billiton plc Reports Production Results for the Quarter and Year to Date Ended December 31, 2016; Provides Production Guidance for the Year 2017
January 25, 2017 at 07:00 am
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BHP Billiton plc reported production results for the quarter and year to date ended December 31, 2016. For the quarter, the company reported total petroleum crude oil, condensate and NGL of 23,911 Mboe against 29,781 Mboe a year ago. Total natural gas was 164.9 bcf against 182.8 bcf a year ago. Total petroleum production was 51.4 MMboe against 60.2 MMboe a year ago. Total copper production was 357.1 kilo tonnes against 384.6 kilo tonnes a year ago.
For the year, the company reported total petroleum crude oil, condensate and NGL of 48,158 Mboe against 60,493 Mboe a year ago. Total natural gas was 346.6 bcf against 385.6 bcf a year ago. Total petroleum production was 105.9 MMboe against 124.7 MMboe a year ago. Total copper production was 711.7 kilo tonnes against 761.9 kilo tonnes a year ago. Total iron ore production for the December 2016 half year increased by 4% to 118 Mt or 136 Mt on a 100% basis.
For the year 2017, the company expects total petroleum production remains unchanged at between 200 and 210 MMboe, comprising Conventional volumes between 123 and 127 MMboe and Onshore US volumes between 77 and 83 MMboe. Production for the 2017 financial year is now expected to be approximately 1.62 Mt, 2% below prior guidance, and reflects a reduction in volumes at Olympic Dam. Guidance for the 2017 financial year remains unchanged at between 228 and 237 Mt or between 265 and 275 Mt on a 100% basis, excluding production from Samarco.
BHP Group Limited is the world's leading mining group. Net sales break down by family of products as follows:
- iron ore (47.3%): 253,000 Kt produced in 2021/22;
- base metals (259%): copper (1,635,7 Kt produced), silver (12,200,000 ounces), zinc (123.2 Kt), uranium oxide (2.4 Kt), etc.;
- coal (23.9%): energy coal (17,937 Kt produced) and metallurgical coal (37,064 Kt).,
Net sales are distributed geographically as follows: Australia (4.9%), China (65.3%), Japan (7.9%), South Korea (5.7%), India (3.6%), Asia (5.9%), North America (4%), Europe (1.7%), South America (0.7%) and other (0.3%).