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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.