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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China oil demand weakens due to global crisis AP - 2 hours 34 minutes ago BEIJING - Fuel demand in China has weakened sharply since September due to the global financial crisis, the country's biggest oil company says. China National Petroleum Corp. has suffered a "fairly big impact," its president, Jiang Jiemin, said in a Nov. 14 speech to employees, according to a transcript on the company's Web site. Jiang gave no details. "Especially since September, the impact is more obvious and prominent. Basically, it is reflected in such things as a sharp shrinking of consumer demand," Jiang said, according to the transcript. China's economic growth slowed in the latest quarter to 9 percent, down from 11.9 percent last year. Sales of gasoline and diesel at State-owned CNPC, the parent of publicly traded PetroChina Ltd., and its rival China Petroleum & Chemical Corp., also known as Sinopec, have grown at annual rates of more than 10 percent in recent years. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Russia, China to resume $25 billion loan talksAP - 54 minutes ago Banks lead European markets downAP - 56 minutes ago Japan faces year of recession, US automakers plead for bailoutAFP - 2 hours 20 minutes ago China oil demand weakens due to global crisisAP - 2 hours 34 minutes ago Related Articles: Business Congress set to question Paulson, BernankeAP - 21 minutes ago Wood Group unit wins Abu Dhabi clean energy dealReuters - 24 minutes ago Bank woes knock European stocks to 3-week lowReuters - 24 minutes ago easyJet board row escalates as earnings fallAP - 25 minutes ago Banking turmoil, commods drag FTSE 1.6 pct lowerReuters - 28 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Citigroup to slash 50,000 jobs, expenses worldwide Exercise, sleep cuts cancer risk: study Obama and McCain pledge 'new era of reform' Earth would be heading to a freeze without CO2 emissions Prince Charles wants to speak out as king: biographer View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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