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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

China keeps oil deals flowing with $1bn Kazakh acquisition

Posted on 01 October 2009

From Timesonline.co.uk: China moved to tighten its grip on Central Asia’s vast oil and gas resources yesterday by acquiring close to a $1 billion (£600 million) stake in one of Kazakhstan’s biggest oil producers.

China Investment Corporation (CIC), Beijing’s sovereign wealth fund, which holds assets worth about $200 billion, bought the 11 per cent stake in KazMunaiGas Exploration and Production, a subsidiary of Kazakhstan’s national oil company………………..Full Article: Source

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