Energy Acquisition Talks in a Globalized World
Cinic Group, a major Chinese conglomerate, is in talks to purchase the Canadian registered company Nations Energy, which is in fact controlled principally by Indonesian share holders. The company has holdings in Kazakstan, Azerbaijan, and Indonesia.
This follows up on last year's aquisition by CNPC of Petrokazakstan, another Canadian energy company with holdings in Kazakstan. The PRC is working to actively acquire energy assets to help ensure adequate oil supplies to fuel the country's on-going economic boom. Central Asian holdings are particularly appealing to China due to their proximity to processing and pipline facilities in Xinjiang.
Link: http://www.euro2day.gr/articlesfna/15652387/
Update: It looks like China and India are in talks to offer a joint bid after realizing their competition for Central Asian energy assets wasn't helping either of them. This smart move by both sides will help them get the best deal they can in today's expensive market.
Link: http://www.iht.com/articles/2006/06/06/bloomberg/sxbriefs.php