Middle East Economic Survey
KMG Completes Acquisition Of BPs Equity In KPV
Kazakhstans state firm KazMunaiGaz (KMG) announced on 30 April the completion of the acquisition of BPs 49.9% interest in the Kazakhstan Pipeline Ventures Company (KPV) for $250mn. The deal gives KMG outright ownership of KPV, which holds a 1.75% state of the Caspian Pipeline Consortium (CPC), and raises Kazakhstans interest in CPC to 20.75%. The deal means that KMG will be able to deliver...