PetroChina may exit 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, reported Reuters, citing people with knowledge of the matter.
Gas explorer Arrow Energy has been given approval by the Austrailian government for its environmental impact assessment.
The company’s proposal for the central Queensland pipeline, which is expected to be about 500km long, will take coal seam gas (CSG) from Moranbah in the Bowen Basin to Gladstone.
