Energy cold war is on – China and India race to acquire PetroKazakhstan

The fight for owning oil and gas resources is on between America, India and China. These three countries in the world are in need of huge energy especially crude oil and natural gas while they produce less than 50% of they need.

China National Petroleum Corporation, Sinopec and India’s Oil and Natural Gas Corporation were expected to make bids for PetroKazakhstan, the Canada-based oil producer, by Thursday’s deadline.