GO
Loading...

Enter multiple symbols separated by commas

Kazakh Oil Firm to Buy Canadian CITIC

Kazakh oil firm KazMunaiGas E&P will pay $930 million to buy half of Canada-based Kazakh oil firm CITIC, formerly known as Nations Energy, the Kazakh firm said on Wednesday.

The acquisition is expected to be completed before the end of the year. The purchase is based on an option granted by CITIC to KazMunaiGas E&P's parent firm KazMunaiGas in December 2006.

Contact Oil and Gas

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.