Petronas Plans Canadian Acquisition Topping $5 Billion: Energy

Petroliam Nasional Bhd., the Malaysian state-owned oil company, is studying a Canadian acquisition exceeding $5 billion as part of the company’s drive to supply natural gas to Asia.

“This is going to be big,” Chief Executive Officer Shamsul Azhar Abbas said in a March 30 interview on the 81st floor of the company’s twin towers headquarters that dominates the Kuala Lumpur skyline. “There are quite a few candidates out there, who are willing to talk,” he said, adding a deal may be announced within three months.