The China National Petroleum Corporation (CNPC) transferred 33 percent of its shares of PetroKazakhstan (PK) to a Kazakhstan state-owned natural gas company, Shanghai Securities News reported.

Meanwhile, the company, KazMunaiGaz, also announced that it purchased 33 percent of the shares of Canada-headquartered PK at a price of 55 U.S. dollars per share, the report said on Tuesday.

CNPC, China's largest oil producer, took over PK in 2005 at a price of 4.2 billion U.S. dollars. This was the largest overseas acquisition ever made by a Chinese company.

Source: Xinhua