Kazakhs, China in talks over stake in oil producer

China National Petroleum Corp. is in talks with Kazakhstan’s state energy company on acquiring a 49 percent stake in the Central Asian country’s fourth-largest oil producer, a KazMunaiGaz spokesman said Monday.

CNPC’s proposed purchase of the stake in MangistauMunaiGaz would consolidate Chinese energy interests in the oil-rich region. MangistauMunaiGaz, which controls oil reserves estimated at 500 million barrels, has also been eyed by Russia and India’s national energy companies in recent months.
Forbes