China to see active overseas expansion of oil enterprises

Note: This section contains information in English only.
Source: China.org.cn

China's oil companies pursue sustainable growth and seek more active overseas expansion. Daqing Oilfield Co Ltd set 20 billion yuan revenue target generated from foreign operations by 2015 which is four times higher compared to this year figure. The company has its operations in 28 countries and sees expansion opportunities to Indonesia and Middle East, reported Wang Yongchun, the General Manager of DOCL.

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Tue, 27 Dec 2011 07:53:24 GMT

China may decrease bank reserves further

Analysts expect further easing of China's bank reserve requirement ratio amid lower inflationary pressure and economic slowdown. Earlier the People's Bank of China decreased reserve requirements by 0.5%, making the first decrease in the last three years. Credit control is also becoming a serious issue as loan-expansion rate coupled with money supplies are high to the nominal GDP growth.

Tue, 27 Dec 2011 07:47:39 GMT

Gold futures decline below $1,600 an ounce

Gold futures decreased, falling again below $1,600 an ounce at the Asian trading. Gold futures for delivery in February approached $1,595.00 an ounce during the Comex electronic trade as compared to last week's closing price of $1,609 an ounce. The gold continued its downward trend despite lower dollar index that fell from 79.990 to 79.874.

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