Gazprom ready to negotiate lower prices for European clients

RIA Novosti reported that the world largest gas export monopoly, Russia Gazprom, said on Monday it was ready to cut prices on its long-term contracts to Europe as the volume of paid for but undelivered gas mounted.

Gazprom, which supplies Europe with a quarter of its energy needs has come

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China Oil and Gas to buy into Sino Director

China Knowledge reported that China Oil and Gas Group Ltd have inked a memorandum of understanding with Sino Advance to acquire an 8% stake in Sino Director for HKD 190 million.

Pursuant to the MOU, Sino Invent an indirectly wholly owned subsidiary of the buyer will pay HKD 180 million in

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Rizhao Port approved to launch private placement

China Knowledge reported that Shanghai listed Rizhao Port Co Ltd has secured approval from the China Securities Regulatory Commission to launch a private placement.
The company earlier announced plans to issue up to 390 million shares at a price of at least CNY 3.94 apiece. Proceeds from the

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Chinese crude steel consumption to hit 596 million tonnes

Xinhua quoted according to a steel association official that China apparent consumption of crude steel is likely to reach 596 million tonnes this year increase of 5.6%YoY.

Apparent consumption represents the sum of net imports and output and can be used to estimate real consumption

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Chinese auto sales in 2010 expected to hit 17 million units

According to data released by the China Association of Automobile Manufacturers, China is expected to record auto sales volume of more than 17 million units this year.

The auto sales volume is expected to exceed 25 million units by 2015.

Mr Li Yang a commentator on the auto industry said

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