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

BHP GROUP

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Oil firms start offshore Gulf of Mexico evacuations as storm threatens

10/05/2020 | 12:56pm EST

HOUSTON (Reuters) - Energy companies on Monday began evacuating offshore oil platforms as the 25th named storm of the year formed in the Caribbean and was forecast to move into the Gulf of Mexico and threaten the Gulf Coast this week.

Tropical Storm Delta was expected to strengthen as it crosses the warm waters of the Gulf of Mexico midweek and to approach the northern Gulf Coast as a category 1 hurricane with up to 105 mile per hour (194 kilometers per hour) winds, the National Hurricane Center said.

BP and BHP began evacuating non-essential personnel from their offshore platforms, the companies said. BHP also plans to shut production at its facilities by Wednesday.

Occidental Petroleum, the third largest offshore producer by volume, said it was taking steps to protect its people and facilities. Royal Dutch Shell said it was monitoring the storm.Offshore production in U.S. Gulf of Mexico accounts for 17% of total U.S. crude oil production and 5% of total U.S. dry natural gas production.

NHC's storm track has Delta to move up the central Gulf of Mexico and making landfall on the central Gulf Coast. Louisiana Governor John Bel Edwards urged the state's residents to prepare for the storm. Southwestern Louisiana was hit in August by Hurricane Laura's 150 mph winds and is still recovering.

Delta is the 25th named storm of the Atlantic hurricane season, which runs from June 1 to Nov. 30. This year's season has been unusually active, with more than double the average number of named storms and eight weeks ahead of it.

(Reporting by Erwin Seba; Editing by David Gregorio)

By Erwin Seba


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -0.63% 39.21 End-of-day quote.0.75%
BP PLC -0.28% 263 Delayed Quote.-44.13%
LONDON BRENT OIL 0.78% 48.14 Delayed Quote.-26.00%
OCCIDENTAL PETROLEUM CORPORATION -0.25% 16.81 Delayed Quote.-59.43%
ROYAL DUTCH SHELL PLC 0.01% 15.146 Delayed Quote.-42.13%
WTI 0.99% 45.415 Delayed Quote.-25.37%
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Financials (USD)
Sales 2021 44 878 M - -
Net income 2021 10 739 M - -
Net Debt 2021 9 953 M - -
P/E ratio 2021 12,8x
Yield 2021 5,38%
Capitalization 133 B 133 B -
EV / Sales 2021 3,17x
EV / Sales 2022 3,25x
Nbr of Employees 31 589
Free-Float 58,1%
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Mean consensus BUY
Number of Analysts 14
Average target price 29,45 $
Last Close Price 28,84 $
Spread / Highest target 19,2%
Spread / Average Target 2,10%
Spread / Lowest Target -19,7%
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Managers
NameTitle
Mike Henry CEO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Peter Beaven Chief Financial Officer
Rag Udd CTO & VP-Technology Global Transformation
Malcolm William Broomhead Independent Non-Executive Director
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