BHP's exit from petroleum, which made up just 5% of its annual earnings, speeds up its exit from fossil fuels amid pressure from environmentally conscious investors.

Enbridge’s 760,0000 barrel-a-day Line 3 oil pipeline could start operating as soon as Sept. 15.

BHP's decision to spend $802 million on oil projects in the US Gulf of Mexico - just days before a new report that issued dire warnings about human contribution to climate change - has ratcheted up pressure from some investors.

The resolution requests BHP detail how its spending in coal, oil and gas assets will align with net-zero emissions target by 2050.

President Joe Biden announced plans to call for half of all vehicles sold in the US to be capable of emissions-free driving by the end of the decade.

Production is expected to begin in the 2024 financial year.