Exxon agrees to PetroChina deal

EXXON Mobil Corp, the world's largest oil company, agreed to sell 2 million tons of liquefied natural gas a year from the Australian Gorgon project to PetroChina Co under a term contract, three executives have said.

The accord needs final approval from China's National Development and Reform Commission, said two PetroChina officials and one from an Asian unit of Gorgon operator Chevron Corp, who declined to be named because of internal rules.