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. ...
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