08-17-2005, 01:57 AM
(This post was last modified: 08-17-2005, 01:58 AM by Bharatvarsh.)
China and India Vie for Company With Oil Fields in Kazakhstan
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->A joint venture of the China National Petroleum Corporation, China's biggest oil company, and PetroChina, its publicly traded subsidiary, offered roughly $3.2 billion late Monday for PetroKazakhstan, a person close to the negotiations said. The Oil and Natural Gas Corporation, India's main state-owned oil company, has already reportedly submitted a bid of $3.6 billion in cooperation with the steel maker Mittal Group.<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->While the Chinese bid appeared to be lower than the Indian bid, Chevron's successful pursuit of Unocal this summer despite a higher bid from Cnooc Ltd. of China has shown that the higher bid does not always win in a politically charged industry like energy.
http://www.nytimes.com/2005/08/16/business...ness/16oil.html<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->A joint venture of the China National Petroleum Corporation, China's biggest oil company, and PetroChina, its publicly traded subsidiary, offered roughly $3.2 billion late Monday for PetroKazakhstan, a person close to the negotiations said. The Oil and Natural Gas Corporation, India's main state-owned oil company, has already reportedly submitted a bid of $3.6 billion in cooperation with the steel maker Mittal Group.<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->While the Chinese bid appeared to be lower than the Indian bid, Chevron's successful pursuit of Unocal this summer despite a higher bid from Cnooc Ltd. of China has shown that the higher bid does not always win in a politically charged industry like energy.
http://www.nytimes.com/2005/08/16/business...ness/16oil.html<!--QuoteEnd--><!--QuoteEEnd-->