BHP has the right energy mix: Mackenzie

BHP Billiton’s portfolio approach to energy production means it is equipped to deal with changing energy consumption trends, says CEO Andrew Mackenzie.
BHP has the right energy mix: Mackenzie BHP has the right energy mix: Mackenzie BHP has the right energy mix: Mackenzie BHP has the right energy mix: Mackenzie BHP has the right energy mix: Mackenzie

Andrew Mackenzie

Lou Caruana

The company itself would continue to produce and consume energy in an environmentally responsible way and put the health and safety of its workforce first, he told yesterday’s annual shareholders meeting in Perth.

“We are fortunate as we already have a diverse energy portfolio,” Mackenzie said.

“We can and will continue to adjust the shape of our portfolio to match energy demand, meet societal expectations, preserve the progressive base dividend and maximise shareholder returns.”

Mackenzie said the company recognised the relevancy of climate change.

“As a significant user of energy, we are working to drive down our greenhouse gas intensity, and we are seeing results,” he said.

“Our current emissions are below our 2006 baseline, despite the substantial growth of our business since then.

“As a major producer of energy-related commodities, we believe that, even with substantial gains in energy efficiency and reductions in carbon intensity, net demand for energy will continue to increase.”

To meet this growing demand, the world must choose its preferred energy mix, according to Mackenzie.

“Although this mix is hard to predict today, it will become clearer as technology evolves and society chooses what will maximise energy efficiency, minimise environmental impact and deliver economic growth.

“We will bring to these discussions our deep understanding of the Earth’s geology, its available energy resources, societal trends and needs and trade flows.”

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