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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  BHP Group    BHP   AU000000BHP4

BHP GROUP

(BHP)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 01/25
46.62 AUD   +1.06%
01/27BHP GROUP : Goldman Sachs maintains a Buy rating
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BHP inks LNG deal with Shell to fuel iron ore cargo to China

11/30/2020 | 07:18pm EST
FILE PHOTO: The logo of Shell is pictured at the 26th World Gas Conference in Paris

LONDON (Reuters) - BHP Group said on Tuesday it awarded Royal Dutch Shell a contract to supply liquefied natural gas (LNG) that will fuel ships loaded with iron ore to China, as part of efforts to cut carbon emissions.

The supply agreement will run for five years from 2022 and will power five Newcastlemax bulk carriers from Western Australia to China.

Both the mining and shipping industries are under pressure from investors and NGOs to lower carbon output, with ships forced to meet new stringent emission standards introduced earlier this year.

BHP Chief Commercial Officer Vandita Pant said the LNG-fuelled vessels are forecast to help the miner cut carbon emissions by 30% on a per voyage basis versus a conventionally fuelled voyage on the same route.

It will also contribute to the miner's 2030 goal to support 40% emissions intensity reduction of BHP-chartered shipping of its products, she said.

In September, BHP said it awarded a tender to charter the iron ore carriers to Singapore-based Eastern Pacific Shipping. A BHP executive also told Reuters the miner was in talks with three firms to supply LNG for the carriers.

BHP's Pant said the contract with Shell was expected to account for up to 10% of forecast Asian LNG bunker demand in FY2023.

(Reporting by Zandi Shabalala; Editing by Dan Grebler)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP 1.06% 46.62 End-of-day quote.9.88%
BHP GROUP -0.56% 2045.5 Delayed Quote.6.91%
ROYAL DUTCH SHELL PLC -2.41% 15.554 Real-time Quote.9.14%
All news about BHP GROUP
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Financials (USD)
Sales 2021 49 572 M - -
Net income 2021 12 649 M - -
Net Debt 2021 9 034 M - -
P/E ratio 2021 14,5x
Yield 2021 5,21%
Capitalization 161 B 162 B -
EV / Sales 2021 3,42x
EV / Sales 2022 3,49x
Nbr of Employees 31 589
Free-Float 58,1%
Chart BHP GROUP
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BHP Group Technical Analysis Chart | BHP | AU000000BHP4 | MarketScreener
Technical analysis trends BHP GROUP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 35,71 $
Last Close Price 34,45 $
Spread / Highest target 25,1%
Spread / Average Target 3,67%
Spread / Lowest Target -25,6%
EPS Revisions
Managers and Directors
NameTitle
Mike Henry CEO, CFO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Rag Udd CTO & VP-Technology Global Transformation
Malcolm William Broomhead Independent Non-Executive Director
Anita Margaret Frew Independent Non-Executive Director
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