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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (4810)	5/17/2005 6:08:42 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Russia plans to sell Rosneft stake to China's CNPC - report 05.16.2005, 11:46 PM BEIJING (AFX) - The Russian government plans to sell up to a 49 pct stake in state-owned oil company Rosneft to China National Petroleum Corp (CNPC), the China Securities Journal reported, citing a Russian news report. The Russian report said that the Russian government was looking to sell the stake for cash as it needs at least 7.5 to 8 bln usd to boost its stake in the natural gas monopoly, Gazprom, to over 50 pct from the current 38 pct. Russia's Energy Minister Viktor Khristenko will visit China later this month and talk with CNPC about the expected sale, according to the report. But a spokesman from Russia's Energy Ministry dismissed the report as a rumor, the China Securities Journal said. Gazprom and Rosneft declined to comment on the report and CNPC officials were unavailable for comment. CNPC is China's largest oil producer and the parent of Hong Kong-listed PetroChina Ltd. forbes.com