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Kazakhstan may favor China for oilfield on loans

Updated: 2013-04-17 13:46

(China Daily)

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Kazakhstan may favor China to acquire a stake in the country's largest oilfield because it can offer loans as part of the deal, said Dominic Lewenz, an analyst at Visor Capital.

The Kazakh government is ready to exercise an option to buy a stake in place of India's Oil & Natural Gas Corp before selling the asset on to one of China's State-run producers, people with knowledge of the matter said.

The Indian company agreed to buy ConocoPhillips' 8.4 percent holding in the Kashagan field for $5 billion in November.

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Schedule

President Xi visits Central Asia, attends G20, SCO summits

Sept 3 to 13: Pay state visits to Turkmenistan, Kazakhstan, Uzbekistan and Kyrgyzstan.

Sept 5 to 6: Attend the eighth Leaders' Summit of the Group of Twenty (G20) in St. Petersburg.

Sept 13: Attend the 13th Meeting of the Council of Heads of Member States of the Shanghai Cooperation Organization (SCO) in Bishkek, the capital of Kyrgyzstan.

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