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CNPC plans to buy oil assets in Kazakhstan

Posted on: Tue, 10 Mar 2009 04:51:00 EDT

Symbols: SCHPY

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BEIJING, Mar 10, 2009 (Xinhua via COMTEX) --
SCHPY | Quote | Chart | News | PowerRating -- China National Petroleum
Corporation (CNPC), parent company of PetroChina (PTR.NYSE; 0857.HK;
601857.SH), is in talks with Kazakhstan side to buy oil assets of the
latter, South China Morning Post quoted CNPC president as saying.

CNPC is expected to spend nearly 10 billion yuan to build an
oil pipeline in Kazakhstan leading all the way to the border of
Russia.

The report said it's not clear whether CNPC or its subsidiary
PetroChina will make the deal.

For full details on (SCHPY) SCHPY. (SCHPY) has Short Term PowerRatings at TradingMarkets. Details on (SCHPY) Short Term PowerRatings is available at This Link.

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