Shell, PetroChina bid for Australia's Arrow (Business Times (Malaysia))

8 March 2010, 8:54 am

PERTH: Royal Dutch Shell and PetroChina jointly bid more than US$3 billion (US$1 = RM3.34) for Australia's Arrow Energy, marking a Chinese firm's first foray in the country's burgeoning coal-seam gas sector and sending Arrow's shares soaring by nearly half. Arrow said yesterday that the bid from a company jointly owned by Shell and PetroChina would give shareholders A$4.45 (AS$1 = RM3.04) in ...... Read More »

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