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8

China's Acquisition Delayed

Government intervention delays Russian buyout...

The Anti-Monopoly Ministry, following a request from Gazprom, has delayed approval of China National Petroleum Corp.'s acquisition of Stimul, an oil producer in southern Russia with about 200 million barrels of crude reserves, Vedomosti reported Friday.

According to a CNPC official, the company had expected a decision last week on its $200 million purchase of 61 percent of Stimul, but instead CNPC received additional requests for information that it found irrelevant.

Gazprom, which owns 39 percent of Stimul, is interested in the stake, according to Dow Jones.