Australian independent Woodside Petroleum’s deferral of its two LNG expansion projects because of a sharp fall in global oil prices this year may open up the prospect of mergers and acquisitions in the upstream sector, as more indebted frms struggle in the current low oil price environment, the company says. It will take some time before prices settle and expectations between buyers and sellers are more aligned given the volatility in global oil prices, chief execu- tive Peter Coleman says.
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