CNPC Acquires 35% Of Kazakstans North Buzachi Oilfield
The China National Petroleum Corp (CNPC) has acquired a 35% stake in Kazakstans onshore North Buzachi oilfield and is said to be negotiating with majority shareholder ChevronTexaco to purchase its shares. CNPC bought the stake from Saudi Arabias Nimr Petroleum for an undisclosed price. The acquisition by CNPC is seen as part of an effort by China to build its oil assets in Kazakstan. Earlier this year...