Monday, 17 October 2005

KAZAKHSTAN PERMITS CHINESE OIL DEAL

Published in News Digest

By empty (10/17/2005 issue of the CACI Analyst)

Kazakhstan will let a Chinese state-owned energy firm buy key oil assets in a deal that gives the central Asian nation a share of those assets. During the weekend, the government of Kazakhstan agreed to let China National Petroleum Corp. buy PetroKazakhstan, a private company, for $4.
Kazakhstan will let a Chinese state-owned energy firm buy key oil assets in a deal that gives the central Asian nation a share of those assets. During the weekend, the government of Kazakhstan agreed to let China National Petroleum Corp. buy PetroKazakhstan, a private company, for $4.8 billion from the company\'s Canadian owners, the Wall Street Journal reported Monday. As part of that agreement, CNPC promised to sell a one-third interest in PetroKazakhstan to an arm of the government of Kazakhstan. Kazakhstan\'s state-owned KazMunaiGaz energy company will buy the 33 percent stake in PetroKazakhstan from CNPC for about $1.4 billion. Also, CNPC and KazMunaiGaz will split ownership of an oil refinery and agree to process a certain amount of crude through the facility, named Shymkent, the newspaper said. (UPI)
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The Central Asia-Caucasus Analyst is a biweekly publication of the Central Asia-Caucasus Institute & Silk Road Studies Program, a Joint Transatlantic Research and Policy Center affiliated with the American Foreign Policy Council, Washington DC., and the Institute for Security and Development Policy, Stockholm. For 15 years, the Analyst has brought cutting edge analysis of the region geared toward a practitioner audience.

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