Energy-connected business and entrepreneurship is looking to adapt to longer-term moderate crude oil prices and renewable technologies of exploration, storage, and distribution. Petroleum, mining, and utilities companies continue to borrow money and build new fields in addition to acquiring partners to improve already existing terrenes and equipment.
In the meantime, not all invested dollars would have given the desired breakdown. The U.K. and Australia based BHP Billiton Ltd (BHP:AU) most recently wrote down $2 billion onshore petroleum charges from operations in Hawkville, Texas, where the gas field is deemed complex and expensive.
Anglo American plc, the coal miner headquartered in London, shrugged off non-cash impairments of $4 billion to $3 billion in iron-ore and coal assets. Anglo is the world’s largest platinum producer. It is bringing its Brazilian unit to full output as prices of the steelmaking ingredient fell 37% in the year ended June.