CNPC Keen on Stake in Woodside Field

Energy producer China National Petroleum Corp has offered to buy a stake in Woodside Petroleum Ltd's Browse liquefied natural gas project in Australia, two people with knowledge of the matter said.

State-controlled CNPC made a binding bid for as much as 15 percent of the venture comprising two natural gas areas off Western Australia's coast, one of the people said, asking not to be identified as the sale process is confidential. The stake may be worth up to $1.5 billion, based on Citigroup Inc's estimate.