Subscribe to our free daily newsletters
  Energy News  

Subscribe to our free daily newsletters

China loans 10 bln dlrs to Kazakhstan: state media

by Staff Writers
Shanghai (AFP) April 17, 2009
China has extended 10 billion dollars in loans to oil and gas-rich Kazakhstan, the Kazakh state news agency reported Friday, in the latest Chinese deal locking up access to foreign resources.

China National Petroleum Corp, or CNPC, said Friday it had signed an agreement to give financial support to the resource-rich central Asian country's national oil and gas company.

Under the agreement signed on Thursday, CNPC will loan up to five billion dollars to KazMunaiGas, the Chinese firm said in a statement.

CNPC and KazMunaiGas also signed a separate agreement to buy a stake together in Kazakhstan-based MangistauMunaiGas from Indonesia's Central Asia Petroleum Ltd.

Kazakhstan's state news agency Kazinform said the five-billion-dollar loan would help pay for the MangistauMunaiGas deal and the construction of the Beineu-Bozoi-Akbulak gas pipeline, which will serve southern Kazakhstan.

The Export-Import Bank of China, a policy lender, also signed an agreement to lend five billion dollars to the state-owned Development Bank of Kazakhstan, Kazinform reported.

From Calgary to Caracas, China has hammered out an unprecedented series of agreements over the past two months as plummeting energy and commodity prices have left once mighty producers over-extended and short on funds.

A 25-billion-dollar loan locked in 15 million tonnes of petrol a year for 20 years from Russia's Rosneft and Transneft. And for 400 million dollars, CNPC agreed to buy a Canadian firm's promising Libyan oil field.

China has also signed multi-billion-dollar deals to secure more oil from Venezuela.

Share This Article With Planet Earth DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook

Related Links

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Analysis: Niger Delta peace possible?
Washington DC (UPI) Apr 16, 2009
An offer of amnesty for Nigerian militants waging attacks in the oil-rich Niger Delta has been met with mixed reviews and prompted increased criticism of President Umaru Yar'Adua's handling of the ongoing violence in the region.

  • China sends more patrols to South China Sea: report
  • Analysis: Niger Delta peace possible?
  • Analysis: Brazil adds find to oil bounty
  • U.S. awards $43M for fuel cell research

  • Poland, Estonia urge Lithuania to speed up atomic power project
  • Over 50 nations want to build nuclear plants: report
  • World's largest nuke plant to restart in quake-hit Japan town
  • Slovenia proposes former envoy Petric as new IAEA chief

  • Iridescent Ice Clouds From Aircraft Wings
  • Deep-Sea Rocks Point To Early Oxygen On Earth
  • Australia issues warning on Hong Kong's dirty air
  • Rendezvous With HALO

  • Environmentalists oppose Amazon road proposal
  • Potential To Amass More Carbon In Eastern North American Forests
  • Some tree seeds are longtime survivors
  • Indonesia should drop forest carbon credit plan: Greenpeace

  • EU seeks deep cuts in fishing capacity
  • EU cuts Mediterranean tuna fishing to protect stocks
  • Germany Bans GM Maize: Monsanto Mulls Legal Action
  • Corn, soy yields gain little from genetic engineering: study

  • Britons offered cash grants to buy electric cars
  • GM aims to double China sales
  • Beijing extends post-Olympics car rules: report
  • Netherlands to introduce car trade-in bonus

  • China Eastern Airlines reports huge loss in 2008
  • Airlines fear failure of global climate talks
  • State takes control of China's first private airline: report
  • Troubled private Chinese airline says president missing

  • Nuclear Power In Space - Part 2
  • Nuclear Power In Space
  • Outside View: Nuclear future in space

  • The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement