Posted on 21/05/08
Fuel supplies returning in China's quake zone
Oil and gas operations in China's quake-struck regions were returning to normal yesterday, as regulators ordered banks to support companies and victims of the disaster. China National Petroleum Corp., the country's biggest oil company, said its operations were virtually back to normal but that it sustained an estimated 1.78 billion yuan ($253.2-million) in losses from the quake, which struck May 12, killing more than 34,000 people. Analysts said that higher-than-expected damage from the quake prompted investors to cash in on recent gains. The government reported Monday that companies suffered 67 billion yuan in damage, with more than 14,200 affected.
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