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Business Week: Chevron’s Coup In China

20 August 2007

PetroChina (PTR ) has picked Chevron (CVX ) to help it develop a natural gas field in central China, a sign the country is turning to outside expertise to help it sate its bottomless energy appetites. The U.S. oil major beat out offers from Norway’s Statoil (STO ), France’s Total (TOT ), and Anglo-Dutch outfit Royal Dutch Shell (RDS ), The Wall Street Journal reported on Aug 7. Meanwhile, oil prices dipped from record highs the previous week, settling around $72 a barrel on fears the U.S. economy was cooling.

http://www.businessweek.com/magazine/content/07_34/c4047030.htm?chan=search

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