Sunday, September 8, 2013

China buys into giant Kazakhstan oilfield for $5 billion

The Times of India: "ASTANA: President Xi Jinping on Saturday will oversee China's entry into Kashagan, a vast oilfield in Kazakhstan, as he tours post-Soviet Central Asia to secure hydrocarbons for the world's largest energy consumer.

The $5 billion deal futher increases China's rising clout in Central Asia, once Russia's imperial backyard, and blocks an attempt by global rival India to get a stake in the oilfield, the world's largest oil discovery in five decades. "

'via Blog this'

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