Regulators approve Shell and PetroChina for Arrow bid

China’s National Development and Reform Commission (NDRC) approved an offer from Royal Dutch Shell (RDS.NYSE, RDS.Euronext, RDS.LSE) and PetroChina (PTR.NYSE, 601857.SH, 0857.HK) to purchase Australian coal-seam gas company Arrow Energy (AOE.ASE), Reuters reported. The NDRC, which approved the offer and waived the requirement to obtain clearance from the State Administration of Foreign Exchange of China, constitutes the last regulatory body standing in the way of the proposed deal. Arrow shareholders will vote on the bid Wednesday. Under the proposed deal, Shell and PetroChina will each own 50% of output from Arrow’s planned Liquefied Natural Gas (LNG) plant in Queensland.