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Members of a convoy on their way to file candidacy papers for a local politician were attacked by up to 100 gunmen in what officials are calling a political massacre "unequaled in recent history." A dozen journalists were slain, along with the wife of gubernatorial hopeful Ismael Mangudadatu. President Gloria Macapagal-Arroyo declared a local state of emergency and vowed to pursue the perpetrators, who were alleged to be connected to the region's current governor, an Arroyo ally...

Author: /time Magazine | Title: The World | 12/7/2009 | See Source »

...Ramu NiCo dispatched battalions of Chinese workers, who macheted their way through dense foliage and built a mirage-like Chinatown where elephant grass and kwila trees used to be. Today, in what was a malarial stretch of hills and valley, huge dormitories, offices and processing plants dot the landscape, along with a 135-km slurry pipeline that snakes its way from Ramu to the coast at Basamuk. (From Basamuk, ships laden with nickel and cobalt will sail to China.) Last December, Ramu NiCo unveiled the first-ever bridge over the Ramu River, eliminating the need for a perilous canoe crossing...

Author: /time Magazine | Title: The World of China Inc. | 12/7/2009 | See Source »

...time for us to truly understand each other, and sometimes it is not easy," says Wu Xuefeng, deputy general manager at Ramu NiCo. "Our proposal to tackle all these challenges is to address them within our overall sustainability development framework, [and] we are glad that we have been improving along the way and that our linkage with the community has been strengthening." Wu also correctly notes that the obstacles his company has faced are "largely the same sort that most of the international mining companies have faced in P.N.G...

Author: /time Magazine | Title: The World of China Inc. | 12/7/2009 | See Source »

...government may have been right all along. After months of sticking to their demands, oil companies now are agreeing to Iraq's $2-a-barrel offer. In mid-November, Italian oil executives from ENI flew to Baghdad to sign a deal on Zubair, a southern Iraq field with about 4.1 billion barrels of reserves. ENI plans to pump about 1.1 million barrels a day from Zubair in partnership with California-based Occidental Petroleum and South Korea's Kogas. ENI was quickly followed by ExxonMobil and Royal Dutch Shell, which agreed to produce about 2.3 million barrels a day in another...

Author: /time Magazine | Title: Pump It Up: The Development of Iraq's Oil Reserves | 12/7/2009 | See Source »

...being there won't be easy, either, due to daunting technical and other challenges. Iraq's oil industry has limped along for years on creaking old equipment, patchwork pipeline networks and decayed, rusted port facilities; Saddam-era sanctions largely prevented the industry from upgrading to state-of-the-art equipment. The country produces just 2.5 million barrels a day, down from 2.8 million barrels before the U.S. invasion and a sharp drop from its high of 3.7 million barrels in 1979, when Saddam boosted production to finance his calamitous war with neighboring Iran. A government adviser recently told Britain...

Author: /time Magazine | Title: Pump It Up: The Development of Iraq's Oil Reserves | 12/7/2009 | See Source »

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