Malaysia’s ambitious plan to build a $7 billion trans-national oil pipeline to ship Middle East crude to big Asian importers moved a step closer to reality on Monday after several regional firms signed on as partners. The 310 km (193-mile) pipeline aims to cut time and costs by bypassing the crowded Malacca Strait, but observers have been skeptical as similar ventures for a Southeast Asian shipping short-cut over the past few decades have failed to materialize. Full Story
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