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Monday, 22 August 2005
CHINA TAKES A GREAT LEAP FORWARD INTO KAZAKHSTAN
By empty (8/22/2005 issue of the CACI Analyst)
CNPC’s purchase of PetroKazakhstan marks a great leap forward for China into Kazakhstan\'s booming oil business, where so far western and Russian investors have held sway. The $4.18bn deal would be the most expensive oil acquisition ever in Central Asia, providing CNPC with 150,000 barrels a day of oil production in central Kazakhstan just 1,000km from the Chinese border plus access to promising exploration acreage.
CNPC’s purchase of PetroKazakhstan marks a great leap forward for China into Kazakhstan\'s booming oil business, where so far western and Russian investors have held sway. The $4.18bn deal would be the most expensive oil acquisition ever in Central Asia, providing CNPC with 150,000 barrels a day of oil production in central Kazakhstan just 1,000km from the Chinese border plus access to promising exploration acreage. It will also facilitate the company’s plans to establish a pipeline to carry Kazakh oil east to China. (FT)