BHP Shifts Focus from Petroleum to Future-Facing Commodities for Shareholder Value

BHP Group's CEO, Mike Henry, clarified during a shareholder call that the company's exit from its petroleum business and divestment of certain coal assets were strategic moves aimed at enhancing shareholder value rather than direct decarbonization efforts. These moves align BHP with future-facing commodities like copper, nickel, and potash, expected to see long-term demand growth. This shift is part of BHP's strategy to reduce its exposure to climate transition risks and capitalize on the megatrends of electrification and decarbonization.