CHINA WINS CONTROL OF MAJOR KAZAKSTANI OIL COMPANY.

The China National Petroleum Corporation (CNPC) has won an international tender for 60 percent of the stock of Kazakstan’s Aktobemunaigaz oil company — apparently China’s largest equity acquisition to date in neighboring Kazakstan. The planned $300 million investment is expected to more than double Aktobemunaigaz’s output, which declined to 2.6 million tons in 1996. The company has two oilfields with aggregate reserves of 600 million tons of oil and 220 billion cubic meters of gas. (Xinhua, June 4)

Yeltsin, Nemtsov File Income Declarations.