BREAKING NEWS
This content is not available in your region

Shell and PetroChina target Arrow

Comments
Shell and PetroChina target Arrow
Text size Aa Aa

Royal Dutch Shell and PetroChina have confirmed that they have formed a partnership to try to buy Australia’s Arrow Energy. The price would be the equivalent of around 2.2 billion euros.

Arrow has Australia’s largest reserves of coal-seam gas, that is natural gas trapped in seams of coal. Its shares soaring by nearly half, indicating investors expect a higher bid.