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Topic: Chinese buy out Canadian based PetroKazakhstan
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Jimmy Brogan
rabble-rouser
Babbler # 3290
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posted 23 August 2005 05:55 PM
From New York Times
quote:
Monday's transaction shows that the great game, once a competition between imperial Russia and Britain for influence in Central Asia, lives on with new players, as China increasingly challenges Russia and the United States for access to the region's energy riches. PetroKazakhstan's fields are in north-central Kazakhstan, an area where Russian businesses, especially Lukoil, have been active. American companies have been more interested in oil reserves of the Caspian Sea, along Kazakhstan's western border, where the region's giant deposits are located, and have invested more than $8 billion there. China National Petroleum's willingness to pay a steep price of nearly $8 for each barrel of estimated oil reserves in the ground, with considerable further costs to pump and ship the oil, contrasts with prices as low as $1 a barrel of reserves in Central Asia in the 1990's. American oil companies have voiced growing alarm that they may be unable to compete with deep-pocketed state-owned oil companies worried about national security. These state oil companies appear more willing to pay high prices for reserves on fears that today's high oil prices will endure.
We will all be lucky if this power game stays limited to buy-outs and mergers. How does a resource company based in Calgary acquire vast oil reserves in Kazakhstan? [ 23 August 2005: Message edited by: JimmyBrogan ]
From: The right choice - Iggy Thumbscrews for Liberal leader | Registered: Nov 2002
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Panama Jack
rabble-rouser
Babbler # 6478
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posted 24 August 2005 02:19 AM
quote:
Originally posted by JimmyBrogan:
How does a resource company based in Calgary acquire vast oil reserves in Kazakhstan?
That is bewildering, however .... the NYT article does menetion : quote:
"PetroKazakhstan, based in Calgary, Alberta, but managed from London,
The nature of oil conglomerates is, appartently, highly globalized, which is a good thing if you believe in free trade. The worry expressed in the article is that State dominated enterprises like in China will change the dynamics of "the great game" away from a bunch of colluding internationalist capital grubbing MoFos into crucial line items of National Security. The transition will be swift and frightening for minor-players in the game like Kazakhstan, Canuckistan, etc.
From: Vancouver | Registered: Jul 2004
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