PetroChina Looks to Add to $3.7 Billion in Australian Deals

PetroChina Co., the nation’s biggest oil and gas producer, is looking to make more deals in Australia, adding to about $3.7 billion in acquisitions as part of a global drive to feed surging Chinese demand.

“As one of the key markets in our Asia and Pacific operations, PetroChina is willing to expand our presence in Australia when a good opportunity arises,” Mao Zefeng, a Beijing-based spokesman for the world’s second-biggest energy company by market value, said in an e-mail to Bloomberg.