Progress CEO hopes for deal decision by year-end
CALGARY, Alberta Dec 4 (Reuters) - Progress Energy Resources Corp's chief executive said on Tuesday that he hopes for a decision from Ottawa on the C$5.2 billion ($5.2 billion) takeover of his company by Malaysia's Petronas this year.
Progress CEO Michael Culbert also said in an interview that a completed deal would increase the ability of the partners' planned LNG export plant on Canada's West Coast to expand because all of Progress's gas-producing lands could be directed to the initiative.
Progress and Petronas currently have a joint venture in the Montney region of British Columbia, and gas from that acreage is earmarked for the proposed plant, which would cost up to C$11 billion.
- Tweet this
- Share this
- Digg this
- Missing jet could slow Malaysian Airline's return to profit
- Rescuers scour sea for Malaysian jet lost in "unprecedented mystery"
- Missing Malaysian jet may have disintegrated in mid-air - source
- TIMELINE - The search for missing Malaysian jet
- Hijacking not ruled out in missing Malaysian jet - chief investigator
The disappearance of a Malaysian jetliner is an "unprecedented aviation mystery", a senior official said on Monday, with a massive air and sea search now in its third day failing to find any confirmed trace of the plane or the 239 people aboard. Full Article