BHP Billiton says food-for-oil review can't be rushed

BHP Billiton says food-for-oil review can't be rushed

by EnergyReview.net

1st February 2006

BHP Billiton says it will take "some time" to properly review all the available facts on its financing of a grain shipment to Iraq in 1996.

BHPB chief executive officer Chip Goodyear "This is an extensive process and it will take some time to properly review all the available information, including any evidence provided to the Commission throughout its public hearing," CEO Chip Goodyear said today.

"The shipment took place more than 10 years ago and many of the people involved have since left the company. We are committing significant resources towards establishing the facts – this involves reviewing documentation from within and outside of Australia. We have and will continue to assist the Commission."

The company is currently undertaking an internal review of issues that arose following references made to BHP in the Commission of Inquiry into the UN Oil-For-Food Program.

Goodyear said the company's internal review would be thorough and its conclusions would be provided publicly as appropriate, given the matters before the Commission.

"The matters raised in relation to BHP in the Royal Commission are of real concern to us," he said.

"Our Guide to Business Conduct, established in 1997, outlines our commitment to the highest standards of ethical conduct. We take that commitment very seriously and understand it is fundamental to our long-term business success."