Middle East Economic Survey

VOL. XLVIII

No 38

19-September-2005

CASPIAN

CNPC International Abandons PetroKazakhstan Spin-Off Proposal

Chinas CNPC International (CNPCI) has abandoned a proposal to spin-off shares in a newly-formed oil and gas company, Newco, as part of its $4.18bn takeover of PetroKazakhstan, the latter announced on 12 September. Newco will seek oil and gas development opportunities in Central Asian countries other than Kazakhstan (referred to by PetroKazakhstan as the Central Asian...