Support The Moscow Times!

China Eyes Kashagan Stake

China has shown interest in buying the stake of U.S. oil major ConocoPhillips in a multinational consortium developing Kazakhstan's giant Kashagan oilfield, Kazakh Oil and Gas Minister Sauat Mynbayev said.

"Kazakhstan has not yet taken such a decision, but there is such a possibility," Mynbayev told reporters. He declined to say what company or government body represented China in talks with Kazakhstan over Kashagan.

Kazakhstan, Central Asia's largest oil producer and the second-largest post-Soviet producer after Russia, has the pre-emptive right to buy out the 8.4 percent stake owned by ConocoPhillips in Kashagan.

(Reuters)

Read more

We need your help now more than ever.

Independent media outlets and journalists in Russia are being increasingly targeted with “foreign agent” and “undesirable” labels, threatening the existence of the free press day by day.

Your donation to The Moscow Times directly supports the last independent English-language news source within Russia.