China's Oil Firms Accelerate Acquisitions

China's leading oil companies have boosted overseas acquisitions during the first half of 2009 because of increased domestic demand and falling prices, a Shanghai Securities News report stated Tuesday. China, the world's second largest consumer of energy, depends on imported oil for nearly half of its needs. China's oil consumption has grown approximately 5 percent annually in recent years. Its sales of passenger vehicles rose 47 percent in May.....Complete Story

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