PETROCHINA'S high-priced acquisition of a stake in the Browse...

PETROCHINA'S high-priced acquisition of a stake in the Browse LNG project cements the company as a significant player in Australia's oil and gas industry and is unlikely to be the company's last purchase here.
The deal is the latest in a long line of acquisitions made by China's state-owned energy giants in recent years, with PetroChina and its rivals Sinopec and CNOOC spending an estimated $US70 billion since 2006 to secure oil and gas assets around the world.
http://www.theaustralian.com.au/business/mining-energy/china-puts-its-foot-on-the-gas-again/story-e6frg9df-1226535691968




PETROCHINA has expanded its international alliance with Royal Dutch Shell by snapping up BHP Billiton's 10 per cent stake in the Browse gas venture, in a move that boosts plans to develop the huge project off the West Australian coast using Shell's cutting-edge floating LNG technology.
After years of friction with Browse operator Woodside Petroleum, BHP said yesterday it would exit the joint venture by selling the "non-strategic asset" to PetroChina for $US1.63 billion ($1.5bn).
http://www.theaustralian.com.au/business/mining-energy/shell-browse-plans-boosted-as-bhp-exits/story-e6frg9df-1226535693159