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Gold/Mining/Energy : Canadian Oil & Gas Companies

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From: axial	9/8/2009 5:43:10 AM
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China backs efforts to break oil contracts -snip- China delivered a blow to some of the world’s biggest investment banks on Monday as it declared its support for legal efforts by some state-owned companies that want to break loss-making oil derivatives contracts with foreign institutions... ... Andy Xie, an independent economist based in Shanghai, said the moves “pretty much kill this business,” adding that the lion’s share of profits enjoyed by US and European banks in China came from derivatives deals with state-owned companies. ft.com Jim

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