Energy cold war is on - China and India race to acquire PetroKazakhstan, the Canada-based oil producer – who will win?
Surjit Singh
Jun. 30, 2005

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.

Their interest comes as Chinese and Indian national oil companies race to acquire foreign companies overseas in an effort to secure oil and gas assets for their nations'' fast-growing energy demand.

According to people familiar with the matter, CNPC, Sinopec and ONGC were the three most determined potential bidders for PetroKaz, which has a market capitalisation of $2.6bn. However, other buyers could emerge, or PetroKaz could decide to remain independent, these people cautioned.

America is getting concerned with the energy needs of India and China. The problem is that America has transferred a lot of its buying power to India and China and those buying power is coming back to haunt them while chasing petroleum resources.


BIZ/FINANCE ARTICLES

Energy cold war is on - China and India race to acquire PetroKazakhstan, the Canada-based oil producer – who will win?
Surjit Singh
The fight for owning oil and gas resources...
READ MORE>>

New tax on Indian stars – Bollywood, cricketer you name it!
Suniti Parker
India’s new star tax is making big news in all front pages...
READ MORE>>

President Bush has restored duty-free access to US markets for some goods from India and Pakistan
Media Release
In a proclamation released by the White House...
READ MORE>>

Court of appeal in the Belgian port city of Antwerp dismissed a money laundering case against State Bank of India
Media Release
The State Bank of India has registered a significant...
READ MORE>>

Akamai India To Play a Key Role for the Company as an Operations Center for Research & Development, Customer Service and Support, and Global Sales and Marketing
Media Release
Akamai Technologies, Inc. (NASDAQ: AKAM), the leading global...
READ MORE>>

India's Electronics Industry Growth Rate will be the fastest and Outpace China’s: Instat
Media Release
The electronics market in India, at US$11.5 billion in 2004...
READ MORE>>

MORE ARTICLES >>

   
 
 
 
 
 
 
 

Close Window