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Is "deoiling" another window?

 Last Update: 2021-09-04
 Source: Internet
 Author: User

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Recently, BHP Billiton (BHP) announced that it will completely withdraw from its oil and gas business and sell all its oil and gas assets to Australia's Woodside Petroleum Company
.

Withdrawing from the petroleum business is another major corporate transformation of BHP Billiton since its successful divestiture in 2014, and it has accelerated its transformation into commodities such as iron ore, copper, nickel and potash

Recently, BHP Billiton (BHP) announced that it will completely withdraw from its oil and gas business and sell all its oil and gas assets to Australia's Woodside Petroleum Company

Recently, many oil giants have come to the forefront of the energy transition
.

The more typical one is Total Energy

Even so, the petroleum industry is still far from being a sunset industry
.

Especially when oil prices have stabilized and rebounded and exceeded $70, the oil giants are still enjoying the joy of a "better harvest"

BHP Billiton's withdrawal from the fossil fuel business is to focus on "greener" commodities, that is, metals and minerals that are vital to global emission reduction, urban electrification, and feeding the growing global population.
It does not completely look down on the oil and gas industry
.

It will take several years to completely abandon vehicles and other infrastructure that use fossil fuels, and it is impossible to ignore the fact that this business segment can bring high profits

BHP Billiton once said that the petroleum business is one of its strategic pillars, but now the world is turning to abandon the use of fossil fuels.
Under the pressure of carbon reduction, it has to give up its "golden pastry"
.

In fact, his family is not the only one facing this embarrassment

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