In what the company describes as a “major step forward”, BP will acquire the US shale oil and gas assets of one of the world’s biggest miners, BHP Billiton, for $10.5bn

The world’s largest mining company could make $10bn from the sale of its US shale division, but that would still represent a significant loss on its 2011 investment

While the shale revolution might threaten OPEC’s leadership in the oil and gas sector, it will bring increased stability and productivity to the industry as a whole