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BHP reports a mixed quarter
BHP Billiton said yesterday that its fourth-quarter petroleum output reached a new record, with the company logging a four per cent rise year-on-year.
BHP logged 37.56m barrels, or 408,000 barrels per day, in the three months to the end of June, largely driven by the start up of a new project in the Gulf of Mexico and an increase in oil production from its fields off the coast of Victoria.
But the mining giant also warned that falling copper prices over the year would cut full-year earnings by $936m (£568m).