BHP Petroleum anyone?

[vishalt]

BHP Billiton Chief Executive Marius Kloppers says the mining giant had no plans to sell its petroleum division as part of a $156 billion takeover approach to rival Rio Tinto .

"No, there are no plans to sell petroleum," Kloppers told a Phone briefing.

He said the mining giant had also held early talks with anti-trust regulators in Australia and Europe on the deal, and did not see any need at this stage for it to have to sell any assets.

BHP Petroleum is massive, does anyone reckon they should spin it off? It'd be a sexy stock with its pipeline of projects and the capital raising would give it heaps of cash to further capitalise on strong crude oil prices.

 

[sfx]

I'd be in that one in a flash. Just take a look at their spin off Bluescope. They turned out to be quite a winner. IPO for BSL was $2.80 back in 2002, and now look at them.

Who do we call to get the ball rolling ?!?! Heeehhehee

 

[vishalt]

lol I used the feedback form on www.bhpbilliton.com.au and said in it "tell your management to spin off BHP Petro as a separate stock plz"

 

[son of baglimit]

BHP Billiton Ltd. (BHP.AU) has no plans to sell its oil and gas division to fund its bid for Rio Tinto Ltd. (RTP), the company's head of petroleum said in a letter to employees.

In the letter, which has now been posted with the Securities and Exchange Commission, Petroleum Chief Executive Michael Yeager said the company has a

strong commitment to the petroleum division.

"As a member of the group management committee, I have been actively involved in the development of the proposal, and the sale has not been contemplated as part of this proposal," he said.

"The board of directors consider BHP Billiton Petroleum to be a key part of the BHP Billiton group; they greatly value our current performance and want more of it in the future."

There have been rumors and media reports that BHP could look to sell off the petroleum division to fund an increased bid for Rio Tinto, a move that has already been ruled out by Chief Executive Marius Kloppers.

Yeager said the proposed Rio Tinto takeover is a great opportunity for the company and its employees and shareholders, and he hopes the deal can be accomplished.

 

[vishalt]

Their petrol div is pretty stangnant though, would love to see it spun-off and expand on its own >_<, like Rio's ERA and CNA

 

[Tysonboss1]

I think any company that spun off oil producing assets would be mad,...

The future of oil production companies with good reserves is fantastic with a steadily rising oil price the won't have any trouble raising capital internally.

what you might see happen though is companies like caltex try and spin off there refining assets in the future,..... so they can focus on the retail side of things,

 

[brodion]

Is anyone watching BHPs return it is coming back quick and fast,with or without RIO..I still think alot is going on behind the scenes to form this merge ..

 

[vishalt]

I think Kloppers is a madman to be honest, it'll be so costly and complicated to merge these businesses and really - the synergies are NOT stunning.

BHP has a ridiculously good pipeline of projects by itself - with a petroleum focus whichl is really the earnings of the future - oil can really only get more expensive in the long-term unless there is a fundamental revolution on our roads but like thats going to happen in 30 years.

I'm holding onto BHP for a while yet but I'm bailing when and if they merge, if they don't then BHP has maximum upside potential imo.

 

[Fab]

This one is interesting it topped at $48 to fall to $39.71 and then bounce back to the current level. I still think there is a lot of short time upside to BHP but bollinger band and RSI are telling me it is topping at least for the short term. On the other side copper and BHP in london went up overnight quite strongly. I am not too sure if I should sell my MINI or wait for BHP to keep going up which I think it will. Any analysis would be welcome. I am looking for short term one.