News Snapshot:
PetroChina may sell its stakes in natural gas projects in Australia and oil sands in Canada, Reuters reported on Tuesday, citing its sources. The Chinese company reportedly wants to cut its losses and divert funds to sites in the Middle East, Africa, and central Asia. People familiar with the matter told the outlet that the company hopes in the next two years to sell some of these assets, which have incurred billions of dollars in losses and are in areas where the company cannot easily compete, according to the report. “Australian gas assets – both Arrow Energy and Browse –...
