April 16, the world's No. 2 largest energy consuming countries of Kazakhstan in China will provide 10 billion U.S. dollars of loans in order to obtain the Central Asian countries a stake in the company's oil production.
According to April 16 in Beijing of the 11 agreements signed in an agreement that China National Petroleum Corporation and the Kazakhstan national oil and gas company of Kazakhstan AO Mangistaumunaigas purchase shares of the company. China President Hu Jintao and Kazakh President Nursultan Nazarbayev attended the April 16, held in Beijing 11 agreement signing ceremony.
10 billion U.S. dollars of aid, including Export-Import Bank of China to the Kazakhstan Development Bank to provide loans of 5 billion U.S. dollars, as well as China National Petroleum Corporation to the Kazakhstan national oil and gas companies five billion U.S. dollars of loans.
China and Russia this year, Brazil and Venezuela signed three other agreements for oil loans. In a 66% drop in oil prices, China began to use its huge foreign exchange reserves to buy energy assets overseas.
Source: www.in-en.com Apr. 17, 2009
