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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO) -- Ignore unavailable to you. Want to Upgrade?

To: Charles A. King who wrote (9987)	10/22/1998 6:59:00 AM
From: Charles A. King	Respond to of 13091

Agenda outlined for Apec summit HONG KONG -- Three new members, fast track trade policies and investment liberalization are expected to be highlighted at next month's summit of the Asia Pacific Economic Co-operation Forum (Apec) in Malaysia. Peru, Russia and Viet Nam will be accepted as new members at this year's summit. The summit will focus on fast-track action in freeing trade and investment in nine sectors, officials from the trade department of Hong Kong Special Administrative Region (HKSAR) government said yesterday. The nine sectors are environmentally-friendly goods and services; fish and fish products; forest products; medical equipment and instruments; energy; toys; gems and jewelry; chemicals and telecommunications equipment; and mutual recognition arrangements. They are part of 15 economic trade sectors that Apec economic ministers agreed to liberalize last November. Comprehensive documentation, rules for implementation and creation of a timetable for fast tracking will be finalized this year so that implementation can start next year. chinadaily.com.cn.net Charles

To: Charles A. King who wrote (9987)	10/22/1998 7:25:00 AM
From: Charles A. King	Read Replies (1) \| Respond to of 13091

The Chinese are learning the hard way how to market oil products in China and making mistakes in the process. Now they want to set up a type of monopoly similar to our 19th Century Standard Oil to eliminate the damage caused by chaotic market conditions and socialist practices. Oil market requires refinement Date: 10/19/1998 Page: 8 Author: Zhao Shaoqin China needs stringent measures to clear up chaos in its refined oil market to protect refineries' profits and State fiscal revenues. In July, China overhauled its oil management system by establishing two giant petroleum and petrochemical groups on the basis of the former China National Petroleum Corp (CNPC) and China Petrochemical Corp (Sinopec). Besides exchanging oilfields, refineries and petrochemical plants between the two oil giants, the reorganization also brought local oil sales companies into the fold, creating a chance to unite oil production and marketing, which had been separated for many years in the planned economy. The reshuffle was expected to establish an orderly competition mechanism in the oil products market. However, the reality turned out to be quite different. CNPC, which pumps and refines oil in North China, launched a marketing battle in July and August in South China, which belongs to Sinopec's production area. Heated competition between the two giants rapidly resulted in crazy price discounts, bringing serious losses to both, according to Liu Qimin, a division chief with Sinopec. To better regulate the market and protect the two rivals' profits, the State Economic and Trade Commission asked CNPC and Sinopec to process less crude oil and join hands to avoid disorderly competition. An oil products supply and sale agreement was subsequently implemented on September 1. According to the agreement, CNPC sells its surplus oil products to Sinopec, rather than marketing them directly in Sinopec's production areas. The agreement lays a sound basis for an orderly market, Liu said. What needs to be addressed now is the oil wholesale market. Several industries, including agriculture, civil aviation, railways, highways, and military and police departments, still get oil products at ex-factory prices in line with the practice of the planned economy. Ex-factory prices are far lower than wholesale prices. The sectors usually order more oil than they need, then sell the surplus on the market to make money. They have built many petrol stations nationwide. Local authorities and even individuals have also set up petrol stations. As a result, China boasts 80,000 petrol stations, compared with around 15,000 in the United States, Liu said. Surplus petrol stations not only bring about low efficiency and poor returns, but also leave room for products acquired from smuggling and small local refineries. It is time to gather all petrol stations under the banners of CNPC and Sinopec and shut down the surplus outlets, Liu said. chinadaily.com.cn.net; Let's hope that if a deal goes through with the Qingdao people, they will be able to market GRNO products with this arrangement. Charles