China outbid India to acquire PetroKazakhstan Inc, Kazakhstan’s third largest oil producer, after its flagship company CNCP raised its offer higher than the Indian price. China National Petroleum Corp, which trailed Oil and Natural Gas-Mittal Group combine when price bids were made on August 15, raised its bid to $4.18-billion to acquire PetroKazakhstan, a Canadian [...]
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Reuters reports: Indian and Chinese oil firms will sign agreements aimed at bidding jointly for foreign oil and gas projects and reducing cut-throat competition, a top Indian official told Reuters on Tuesday. The energy-hungry Asian giants, which have stretched global supplies and contributed to the record rise in oil prices, are competing for stakes in [...]
Posted in Energy, Politics | 2 Comments »
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