--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar


Hot Links
China Development Gateway
Chinese Embassies

Online marketplace of Manufacturers & Wholesalers

CNPC Offers US$4.18 Bln for PetroKazakhstan

China National Petroleum Corporation (CNPC), China's biggest oil producer, announced on Monday that it has made an offer of US$4.18 billion for PetroKazakhstan (PK) through its wholly owned subsidiary China National Petroleum Corporation International (CNPCI).

Registered in Canada, PK is a vertically integrated international energy company listed on the stock exchanges in the United States, Canada, the United Kingdom, Germany and Kazakhstan.

With an annual crude oil output of 7 million tons, the company's oil and gas assets are located in Kazakhstan, which shares a border with China.

According to company sources, CNPC has been involved in the oil and gas business in Kazakhstan for years, fostering business relations with the government of Kazakhstan and Kaz Munai Gaz, the national oil and gas company.

According to a CNPC press release, the acquisition is a strategic one for the expansion of CNPC's business in Kazakhstan, and it serves as part of CNPC's international development strategy.

CNPC's unique technological competitive strength and management experience will be fully utilized to upgrade the value of the assets acquired, and the acquisition would bring added value to shareholders of PetroKazakhstan, according to the press release.

(Xinhua News Agency August 23, 2005)

CNOOC Withdraws Unocal Bid
CNPC's Half-year Revenue Rise 39.6%
CNOOC Offers US$18.5 Bln for Unocal
PetroChina Acquires Overseas Assets from CNPC
Refinery Expansion in Xinjiang Approved
CNPC Turns out 150 Mln Tons of Oil, Natural Gas
CNPC Reports Record Profits
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688