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 DEVELOPMENT OF CHINA'S INDUSTRY |
| In 2007, growth of oil and natural gas exploration industry slowed down with substantial drop comparing with the same period of previous year. The industrial total value of oil and natural gas exploration industry realized RMB726.174b during Jan. to Nov., up by 4.82% year-on-year, which is 21.27% lower than the same period of previous year; cumulative sales revenue of the industry totaled RMB767.906b, up by 6.98% year-on-year, which is 21.39% lower than the same period of previous year. |
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| STATUS OF FOREIGN INVESTMENT |
| According to the statistics released by Ministry of Commerce, in 2006 there were 28 projects using foreign investment in oil and gas industry, up 3.7% over the same period of the previous year. The actually used foreign capital amount was 40 million USD, up 64.22% over the previous year. |
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| COMMITMENTS TO THE WTO AND INTERNATIONAL PRACTICES |
| Petroleum oils & oils obtained from bituminous minerals, crude subject to China National Chemical Import & Export Co. ,China International United Petroleum & Chemicals Co. and China National United Oil Co. for exporting, to China National Chemical Import & Export Co., China International United Petroleum & Chemicals Co., China National United Oil Co. and Zhuhai Zhenrong Company for importing. |
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| DEVELOPMENT OF GLOBAL INDUSTRIES |
| According to the year-end statistics of the world crude oil production and oil and gas reserves issued by American Oil & Gas Journal on December 18th 2006, the world crude oil and gas condensate production was predicted to reach 3.62 billion tons, up about 0.2% over the actual production of 3.61 billion tons in 2005. |
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