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PetroChina Confirms Joint Bid With Shell For Arrow; No Details

THE WALL STREET JOURNAL

MARCH 7, 2010, 9:01 P.M. ET

BEIJING (Dow Jones)–PetroChina Co (PTR) has just launched a bid with Royal Dutch Shell PLC (RDSA) for Australian energy producer Arrow Energy (AOE.AU), Jiang Jiemin, chairman of PetroChina confirmed Monday.

The joint bid was in its early stages and there was no timetable for the process, he said.

He declined to give details, such as the percentage share of PetroChina and Shell.

Jiang was speaking on the sidelines of China’s National People’s Congress, the nation’s annual legislative session, which ends March 14.

-Wan Xu contributed to this article; Dow Jones Newswires; 8610-84007799; [email protected]

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