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Article: Southeast Asia oil firms scout for foreign assets.(Main Business)
- Article from:
- Manila Bulletin
- Article date:
- September 17, 2009
CopyrightCOPYRIGHT 2009 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BANGKOK, Sept. 17 (Reuters) – Southeast Asia's major oil and gas firms are gearing up for an aggressive expansion to overhaul local operations and snap up foreign assets to meet the needs of a fast-growing, power-hungry region.From the archipelagos of Indonesia and the Philippines to the rapidly developing economies of Malaysia and Thailand, energy firms are signing loans or tapping fixed income markets to finance expansion plans at a time when some Western oil majors such as Royal Dutch Shell Plc are scaling back spending.But whether energy groups such as Thailand's PTT can catch up with bigger rivals like Malaysia's Petronas and grow outside their home markets ...