Chinese May Get Russian Yukos Oil Stake

BBC News reporting China's state-owned oil company CNPC may get 20% statke in former Russian oil production unit.

Published: 03-Jan-2005

KAZINFORM quotes BBC News-Booming growth and consumer demand makes China thirsty for oil China's state-owned oil company CNPC may get a 20% stake in Yukos' former oil production unit, Russia's Energy Minister Viktor Khristenko has said.

Yuganskneftegas was sold for $9.4bn to state oil firm Rosneft a week ago to help pay off Yukos' massive tax bill.

Mr Khristenko said that Yuganskneftegas would function as a separate entity and would not be part of a planned merger between Rosneft and Gazprom.

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