|
|
|
 
 
 
 
|
|
|
|
|
||
|
| ||||
| ||||
| ||||
| ||||
| ||||
|
|
|
Energy cold war is on - China and India race to acquire PetroKazakhstan, the Canada-based oil producer – who will win?
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
|
|
| Click here to get ad specs and place your ad or Click here to contact the advertisement department |
Send Letters to the Editor
|
Add RSS headlines