China's officialnewsagency reports that China National PetroleumCorpwillbuilda three-point-two-nine billion dollar oil pipelinein the UnitedArab Emirates.
And a foray outside steel into the world of oil ended in frustration when Mittal Steel's joint bid with Indian oil company ONGC for PetroKazakhstan (nyse: PKZ - news - people ) was topped by China National Petroleum Corp.