Exclusive: PetroChina may sell Australian, Canadian assets to stem losses - sources

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SINGAPORE : PetroChina may sell out from natural gas projects in Australia and oil sands in Canada to stem losses and divert funds to more lucrative sites in the Middle East, Africa and central Asia, two people with knowledge of the matter said.

The sales follow an internal review of PetroChina's global portfolio that began last year, the two sources said, declining to be named as the discussions are not public.

"Australian gas assets - both Arrow Energy and Browse - are considered among the top 'negative assets' in PetroChina's global portfolio.

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Article Details

Category: Economy

Topics: Arrow Project Billion Losses Canada Sources Petrochina Assets Browse Australia Projects

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-28, 17:08:42

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 5 minutes read

Article Length: 884 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 18042

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About Channel News Asia

Main Topics: Economy

Official Website: channelnewsasia.com

Update Frequency: 57 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 40m ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #27

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