CHINA ESTABLISHES FOURTH PETROLEUM FUTURES EXCHANGE

China's four biggest state petroleum companies have combined with other entities to create the world's fourth petroleum futures exchange at Nanjing, capital of Jiangsu Province. The move is the latest effort by Beijing to nudge the country'S petroleum sector closer to world market oriented operations. The Nanjing Petroleum Exchange (Nanpex), established Dec. 9 by China National Petroleum Trading Corp., China National Offshore Oil Corp., China Petrochemical Trading Corp., and China

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