From: Justin Burke (JBurke@sorosny.org)
Date: Mon May 22 2000 - 11:07:07 EDT
KAZAKHSTAN SELLS PART OF TENGIZCHEVROIL STAKE
Ending months of speculation and contradictory statements, the Kazakh
government last week finally sold 20 percent of its 25
percent stake in the Tengizchevroil joint venture to Chevron
for $450 million, RFE/RL's Kazakh Service reported on 18 May.
Chevron now has a 50 percent stake in Tengizchevroil. The
Kazakh government and the U.S. oil company had discussed the
sale last fall but failed to agree on terms. Kazakh government officials
have been debating since last August the advisability of
selling part or all of Astana's share in the company, which
is developing oil fields in eastern Kazakhstan. LF
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