Posted - may 15, 2013 - Matt Chambers -
The Australian -
CHINESE oil giant PetroChina has walked away
from a $185 million bid for Queensland coal-seam gas company WestSide
Corporation as high construction costs and increased environmental
hurdles reduce the appeal of Australian projects.
The Chinese company, which has three Australian LNG projects
yet to be approved, told WestSide its non-binding offer, which was
lodged in November, had been withdrawn "because the general situation in
Australia has changed so much".
Post to be found at:
http://www.theaustralian.com.au/business/mining-energy/chinese-abandon-bid-for-westside/story-e6frg9df-1226642476325
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