Ivanhoe Could Raise $160M In Sale Of China Gas Stake

Law360, New York (January 11, 2012, 5:01 PM EST) -- Canada's Ivanhoe Energy Inc. has reached a deal to sell its interest in a Chinese natural gas play to a unit of Royal Dutch Shell PLC for as much as $160 million as it focuses on its oil-related operations, Ivanhoe said Wednesday.

Calgary, Alberta-based Ivanhoe sold its stake in the Production Sharing Contract for the Zitong block in China’s Sichuan Basin to Shell China Exploration and Production Company Ltd. in a deal that requires Chinese government approval, it said.

"We have made an important discovery of...
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