China's official news agency reports that China National Petroleum Corp will build a three-point-two-nine billion dollar oil pipeline in the United Arab Emirates.

中国官方媒体报导说，中国石油天然气集团公司将出资32亿9千万美元在阿拉伯联合酋长国建造一条输油管。

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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.

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