Consolation prize for China oil firms – Keith Bradsher and Christopher Pala

Fro The International Herald Tribune:

China’s biggest state-owned oil company agreed on Monday to pay $4.18 billion for a Canadian oil company with substantial reserves in Kazakhstan, China’s largest foreign acquisition.

The Chinese company, China National Petroleum Corp., outbid the Indian state-owned company Oil and Natural Gas in reaching a deal to acquire PetroKazakhstan.

August 22, 2005 8:03 AM
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