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US cutback from Asia paves way for oil investment rivals

American energy firms under pressure to reduce spending and overseas exposure, focus on home market

Indonesia's PT Pertamina and Thailand's PTT Exploration & Production are among the Asian companies that have acquired US firms' stakes in oil and gas assets in the region.


A PULLBACK by US energy companies from Asia is opening the door for competitors looking to snap up unwanted oil and gas assets in the region.

US producers are facing pressure to cut spending, reduce exposure overseas and focus on the domestic market, where oil production is...