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Journalism of Courage
Chinese state oil firm CNPC may face Kazakh government opposition to its planned $4.2 billion takeover of Canada’s PetroKazakhstan, possibly over ownership of the Central Asian nation’s largest refinery, industry sources said.
The Kazakh government has declined to comment on the sale of PetroKazakh, whose operations are based in the Central Asian state, while sources close to the situation, said the government had not yet given its blessing to the deal.
PetroKazakh has played down the need for government approval of the deal, but industry players see this as crucial.
One Kazakh oil industry source said the government’s silence could be a sign that it had yet to make a final decision on the sale of PetroKazakh. The government, which has been exerting greater control over Kazakhstan’s oil industry in recent years, could seek concessions from CNPC in return for approving the sale, industry sources said. — Reuters
Kazakhstan refuses to intervene in bidding
NEW DELHI: The Kazakhstan government has refused to intervene in the sale of Petrokazakhstan to China’s CNPC, saying the deal was between two private firms and it took place outside its jurisdiction. A Kazakh official said from Almaty that his government would not exercise its pre-emption right in favour of ONGC. ‘‘We cannot discriminate between the Indians and the Chinese,’’ he said. PTI
