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BUSINESS
August 4, 1988 | DONALD WOUTAT, Times Staff Writer
China agreed Wednesday to buy half of a Hercules, Calif., oil refinery in a move that will put Chinese crude oil into competition with Alaska and California oil. The investment is the first of its kind by China's state-owned oil industry and mimics recent actions by several OPEC nations. The joint venture with Coastal Corp. of Houston, owner of the small refinery in the San Francisco Bay Area, also signals a move by Coastal into California's huge gasoline and convenience-store market, the U.S.
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BUSINESS
August 4, 1988 | DONALD WOUTAT, Times Staff Writer
China agreed Wednesday to buy half of a Hercules, Calif., oil refinery in a move that will put Chinese crude oil into competition with Alaska and California oil. The investment is the first of its kind by China's state-owned oil industry and mimics recent actions by several OPEC nations. The joint venture with Coastal Corp. of Houston, owner of the small refinery in the San Francisco Bay Area, also signals a move by Coastal into California's huge gasoline and convenience-store market, the U.S.
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BUSINESS
June 26, 1995 | From Financial Times
China set in place a service last week that may come to be regarded as marking a revolution in its links with the outside world: access to the Internet went commercial. After a three-month experiment during which subscribers were invited to try out the global computer network, the Beijing Telegraph Administration began charging for connections. The BTA reports a flood of inquiries, and officials expect the number of regular users to grow rapidly.
OPINION
March 21, 2011 | By Edward N. Luttwak
Once again the voices of robust humanitarians rise to summon Americans to invade a Muslim country to liberate its people from their own sanguinary rulers. Once again we are told that innocent civilians, human beings just like us, are being massacred and that the United States must intervene as a matter of moral duty, in its capacity as a great and good nation. But in this case ? even as part of a broader, U.N.-sanctioned coalition to enforce a no-fly zone ? the United States should not enter into combat in Libya.
BUSINESS
October 22, 2009 | David Pierson
A Chinese company's gambit to drill for oil in U.S. territory demonstrates China's determination to lock up the raw materials it needs to sustain its rapid growth, wherever those resources lie. The state-owned China National Offshore Oil Corp., or CNOOC, reportedly is negotiating the purchase of leases owned by the Norwegian StatoilHydro in U.S. waters in the Gulf of Mexico, the source of about a quarter of U.S. crude oil production. China's push to enter U.S. turf comes four years after CNOOC's $18.5-billion bid to buy Unocal Corp.
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