Petronas in talks to sell stake in Canada shale to Indian Oil-sources
KUALA LUMPUR/NEW DELHI, July 9
KUALA LUMPUR/NEW DELHI, July 9 (Reuters) - Malaysia's Petronas is in talks to sell 10 percent of its Canadian shale gas assets to Indian Oil Corp, sources with direct knowledge of the matter said, mirroring a deal it signed earlier this year with a Japanese company.
State-run Petronas last year bought Canada's Progress Energy Resources Corp in a C$5.2 billion ($4.92 billion) deal that gave it shale gas properties in northeastern British Columbia.
In March it sold a 10 percent stake in the integrated shale gas development and liquefied natural gas project to Japan Petroleum Exploration. Financial details of that deal have yet to be revealed publicly.
Terms of a potential deal between Petronas and state-run Indian Oil have not yet been worked out, the sources said.
($1 = 1.0560 Canadian dollars) (Reporting by Niluksi Koswanage in KUALA LUMPUR and Nidhi Verma in NEW DELHI; Additional reporting by Sumeet Chatterjee in MUMBAI. Editing by Tony Munroe)
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