E. Timor clears rules for Sunrise gas project takeover after parliament backing
January 17, 2019 at 03:40 AM EST
East Timor's president has approved a decree allowing use of the country's petroleum fund for a $650 million buyout of Royal Dutch Shell and ConocoPhillips' holdings in the Greater Sunrise gas project, a proposal he had vetoed in December but which subsequently won overwhelming parliamentary backing.