Oil and gas companies in China look to Australia
Malaysia News.Net
Saturday 29th May, 2010
Chinese business interest are hoping to find new acquisitions in Australia to build their own oil and gas sector.
Potential acquisition targets in Australia may be taken up by Chinese budgets that are worth about US$30 billion.
A year ago the Chinese had about half that amount to purchase overseas businesses.
China is likely to keep hunting for resources that can be developed as liquefied natural gas.
It is believed there has been a tentative offer for Karoon Gas Australia, based in Mt Martha, Victoria.
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