Govt to review steep petrol hike
India's coalition government opened the way for a partial rollback of the steepest petrol hike in the country's history after two days of street protests and dissent from within its own ranks over the unpopular measure. Full Article
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UPDATE 1-China crude output decline slows in July
(Adds comparison to June's 1.8 decline, background)
BEIJING Aug 11 (Reuters) - China's crude output edged down 0.3 percent in July from a year earlier, a slower decline versus June, the National Statistical Bureau said on Tuesday.
China, the world's fifth-largest crude producer, which pumps half of the oil the country consumes, produced 16.14 million tonnes in July, or 3.8 million barrels per day. June output was down 1.8 percent year on year.
Production in the first seven months was down 1 percent at 109.64 million tonnes, the bureau said, the same pace of decline as in the first six months.
Earlier this year, PetroChina (0857.HK), Asia's largest oil and gas producer, forecast a steep 4.4 percent decline in its 2009 crude output, as the company shut down some marginal fields because of high development costs and expectations of weaker demand. (Tonne=7.3 barrels) (Reporting by Shen Yan and Chen Aizhu; Editing by Chris Lewis)
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