Petronas in talks to sell stake in Canada shale to IOC

Malaysia's Petronas is in talks to sell 10 percent of its Canadian shale-gas assets to Indian Oil Corp, sources with direct knowledge of the matter said, mirroring a deal it signed earlier in 2013 with a Japanese company.

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State-run Petronas in 2012 bought Canada's Progress Energy Resources Corp in a CD 5.2 billion deal that gave it shale gas properties in northeastern British Columbia.
In March it sold a 10-percent stake in the integrated shale gas development and liquefied natural gas project to Japan Petroleum Exploration. Financial details of that deal have yet to be revealed publicly.
Terms of a potential deal between Petronas and state-run Indian Oil have not yet been worked out, the sources said.