KazMunayGaz deal falls apart

The deal by Kazakh State energy firm KazMunayGaz to sell 51 percent of its Romanian business to Chinese energy giant CEFC has fallen apart, three sources familiar with the talks said.

KazMunayGaz agreed in December 2016 to sell CEFC a 51-percent stake in its international business, KMGI, which owns a refinery in Romania and petrol stations in Romania, Bulgaria, Moldova and other countries.

On Tuesday, the three sources familiar with the talks told Reuters that the deal has fallen apart.