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Kazakhstan's government says it will exercise its right of first refusal and acquire the 8.4%...

Kazakhstan's government says it will exercise its right of first refusal and acquire the 8.4% stake held by ConocoPhillips (COP) to develop the giant Kashagan oil field. After state-owned KazMunaiGaz completes the deal, it would hold a 16.88% stake in the $48B project; Exxon Mobil (XOM), Royal Dutch Shell (RDS.A, RDS.B), Total (TOT) and Eni (E) each would own 16.81%, China's CNPC 8.33% and Japan's Inpex 7.56%.
Comments (2)
  • Ha! I thought China would get COP's stake:

     

    http://seekingalpha.co...
    2 Jul 2013, 09:31 AM Reply Like
  • Why is COP selling? I've read Alpha articles forecasting a COP cash crunch. Is this just a refocus to assets in the US (Eagleford) or is there a bigger problem.
    2 Jul 2013, 08:22 PM Reply Like
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