Word: state-run
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...technology to exploit them. Once Chinese companies have a stake in oil coming out of the ground, even if it originates abroad, they'll have secured long-term supplies independent of the world's fickle prices. The process of overseas exploration began in 1997, when Premier Li Peng encouraged state-run oil concerns to look outside China's borders for investment opportunities, and in the past few years the search has ranged all over the world...
...foreign companies have been willing to participate in drilling in the Tarim Basin, considered China's last onshore region with major untapped reserves. The oil is thought to be of low quality, and moving it out of the isolated Taklamakan desert is just too expensive. "China's state-run companies sometimes operate for the national interest," says a Beijing-based executive of a foreign oil company. "But we have to base our decisions on profitability...
...spent my last day in Russia staring at state-run television. Intermittent rain did not deter thousands from pouring onto Red Square in an inspiring display of national unity and heartbreak. The feeling was eerily similar to that of Sept. 11, 2001, when I joined thousands on Tercentenary Theatre to contemplate the inhuman scale of the attack perpetrated on my own country three years...
...Thus a set of photos, published last month during celebrations for the 100th birthday of late Communist Party patriarch Deng Xiaoping, raises questions about the relationship between the two men. The original image, published in the state-run Oriental Outlook magazine in the last week of August, shows Hu shaking hands with Deng in 1992 while Jiang stands behind them, as if giving introductions. But in the other two photos, which appeared in Shanghai's Wen Hui Bao newspaper on Aug. 13 and in a set of pictures celebrating Deng's centenary, Jiang has vanished. At least...
WIND AND HAIL POLICY In regions at high risk for severe wind and hail, insurance companies often exclude coverage for windstorm-related losses from homeowner policies. Don't despair: you can still insure your home. Several states, including Alabama, Florida, Louisiana, Mississippi, Texas, North Carolina and South Carolina, have set up a special state-run windstorm pool to fund policies...