The proceeds would be used in part to support CNPC's global exploration and exploitation activities.
There is no question that this will significantly increase CNPC's access to financing that would otherwise be unavailable to fund its foreign operations.
TO, 30% by Indonesia's state oil company Petronas, and 40% by China's state CNPC.
In fact, investors have begun to vote with their feet on a major partner of CNPC in Sudan's principal oil consortium -- Canada's largest private petroleum firm, Talisman Energy, Inc.
CENTERFORSECURITYPOLICY: The Bloom Comes Off the Rose of 'China, Inc.'
Another chunk went to big foreign oil companies: Britain's BP, CNPC of China and Petronas of Malaysia have all bought stakes.
In February, the heads of China's three state-controlled oil and gas majors -- China National Petroleum Corp (CNPC), Sinopec and China National Offshore Oil Corp (CNOOC) -- met one of Russia's most influential players in the energy sector, Igor Sechin, chief executive of state-owned oil company Rosneft.
Then in a surprise move in August CNPC snatched from under the noses of the favored U.S. giants the rights to negotiate with the Kazak government the rehabilitation and exploitation of Uzen field near the Caspian coast.
In her remarks, CNPC president said she was very pleased to see the prima ballerina assoluta's interpretation capacity and the Cuban National Ballet's peculiar way of approaching the safeguarding of the cultural heritage of the country and the rest of the world.
In turn, CNPC is a Chinese government company and the largest shareholder (40%) in the Sudanese government's oil joint venture, the Greater Nile Petroleum Operating Company (GNPOC).
As you are aware, PetroChina is a subsidiary largely owned by the China National Petroleum Corporation (CNPC), which is itself a state-owned entity controlled by the government of the People's Republic of China (PRC).
PetroChina is China's most significant oil concern and is primarily owned jointly by the People's Republic of China and its largest state-owned energy enterprise, China National Petroleum Company (CNPC).
China, too, is eager to get in, with state controlled CNPC vying to purchase Canadian minnow Verenex, which has found 2 billion barrels of oil and gas in Libya's Ghadames basin.
In June, China National Petroleum Corp. (CNPC) won a 60% stake in the privatization of Aktyubinsk (see map next page) in Kazakstan's northwest, a deal that got it two major fields -- Zhanazhol with reserves of 1 billion barrels and Kenkayak with 300 million.
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