HenryTo
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Joined: 06 Aug 2004
Posts: 7857
Location: Houston, Texas & Los Angeles, California
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 Posted: Thu Jun 30, 2005 7:03 pm Post subject: China's CNPC, India's ONGC Keen On PetroKazakhstan |
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Looks like a potential bidding war between China and India on energy. At some point, these two potential superpowers may clash as each tries to acquire more energy sources from overseas:
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Friday July 1, 8:26 AM
China's CNPC, India's ONGC Keen On PetroKazakhstan - FT
HONG KONG (Dow Jones)--China National Petroleum Corp., Sinopec (SNP) and India's Oil & Natural Gas Corp. (500312.BY) were among the expected bidders for Canada-based oil producer PetroKazakhstan Inc. (PKZ), the Financial Times reported on its Web site, citing people familiar with the matter.
Their interest comes as Chinese and Indian national oil companies race to acquire foreign companies overseas in an effort to secure oil and gas assets for their nations' fast-growing energy demand, it said.
The FT said most of PetroKazakhstan's assets are located in the path of CNPC's Sino-Kazakh crude pipeline, due to begin transmission by the end of this year.
Newspaper Web site: http://news.ft.com
-Edited by Sharon Buan |
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