Australia watchdog OKs Shell/PetroChina bid for Arrow

PERTH, April 14 Wed Apr 14, 2010 12:58am BST

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PERTH, April 14 (Reuters) - Australia's competition regulator on Wednesday said it would not oppose the acquisition of coal seam gas producer Arrow Energy Ltd AOE.AX by Royal Dutch Shell (RDSa.L) and PetroChina (0857.HK).

The Australia Competition and Consumer Commission said that given competing gas suppliers and abundant gas reserves, it "considered that the proposed acquisition was unlikely to substantially lessen competition in any relevant market." (Reporting by Fayen Wong; editing by Balazs Koranyi)