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KazMunaiGaz, CNPC Unit Paid $2.8 Billion Loan Ahead of Schedule

July 3 (Bloomberg) -- A joint venture between KazMunaiGaz National Co. and China National Petroleum Corp. paid back $2.8 billion originally borrowed from Export-Import Bank of China to buy Kazakh oil producer Mangistaumunaigas.

Mangistau Investments B.V. borrowed the cash in November 2009 and was due to repay it in 2019, state-owned KazMunaiGaz said today in a statement on its website. The loan was paid from the revenue of Mangistaumunaigas, the company said.

To contact the reporter on this story: Nariman Gizitdinov in Almaty at ngizitdinov@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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