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China Aviation Oil ceases oil derivatives trading

“There are no open positions in respect of futures and options oil trading activities as at December 7, 2004, except for back to back oil option trades with threecounterparties,” the company said in a statement.

With regard to swap derivative trading activities, the company said that 25 counterparties “have unilaterally terminated their trades with the company based on theircontractual rights.”

This leaves 35 counterparties remaining with trades.

“The company has informed all the

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