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    market news

    Centrica, Qatar Petroleum Purchase Suncor Gas Fields for $1 Billion

    Investing News Network
    Apr. 15, 2013 11:02AM PST
    Oil and Gas Investing

    Bloomberg reported that Centrica and Qatar Petroleum bought natural gas fields from Alberta’s Suncor for $1 billion.

    Bloomberg reported that Centrica and Qatar Petroleum bought natural gas fields from Alberta’s Suncor for $1 billion.

    As quoted in the market report:

    The acquisition provides attractive returns in a region we know well, and significantly increases the size and quality of our portfolio,” Sam Laidlaw, chief executive officer of Windsor-based Centrica, said in the statement. With the prospect to develop another 1 million acres, it has “the potential to improve returns further.

    To view the whole press release, click here.

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