BHP Billiton Ltd
(ASX:BHP) has announced annual production records in its petroleum and iron ore divisions for the year ended 30 June 2010.
In the 2010 financial year BHP reports petroleum production rose 15% on the previous year, delivering the third consecutive production record.
The resource company attributes the growth to the successful delivery of projects in the Gulf of Mexico and Australia, partially offset by natural field decline and the suspension of drilling in the Gulf of Mexico.
The company says iron ore produced from its operations in Western Australia achieved its tenth consecutive annual production record.
The company however, says it continues to remain cautious on the short term outlook for the global economy.
BHP says uncertainty surrounds the near term prospects for growth in the developed world, as governments adjust fiscal policies following a period of significant stimulus and subsequent increase in sovereign debt levels.
BHP Billiton (ASX:BHP) reported a profit of $7.2 billion for the year ending 30 June 2009.
