Bangchak buys into foreign explorer | Bangkok Post: business

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Bangchak buys into foreign explorer

Diversifying with 20% slice of Australia's Nido

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Majority state-owned refiner Bangchak Petroleum Plc (BCP) will pay A$22.2 million (661 million baht) for a nearly 20% stake in Australian oil and gas explorer Nido Petroleum Ltd. 

This ship is part of Nido Petroleum’s operations in Philippine waters. Bangchak Petroleum is obtaining a 20% stake in the Australian oil and gas exploration company.

The move is aimed at expanding Bangchak's international portfolio and leverage business risks.

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