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China: Energy Comp. Back To Normal

Energy companies in the Chinese region hit by the recent earthquake are returning operations to normal, the nation's largest oil firm has said

China: Energy Comp. Back To Normal

Energy companies in the Chinese region hit by the recent earthquake are returning operations to normal, the nation's largest oil firm has said.

China National Petroleum Corp's (CNPC) said its Wenchuan filing station had reopened and supplies totally restored.

CNPC said the disaster had cost it 1.78bn yuan, ($225m; Ј115.1m). A day earlier the government said the cost to firms of the quake was $9.5bn.

The government has told banks to offer loans and support for firms affected.

"Financial institutions must take full account of the difficulties of residents and firms in the disaster regions and must not urge them to repay loans and or penalise individuals and firms if they can't repay loans on time," a notice from China's central bank and China's Banking Regulatory Commission said.

The government has ordered banks to establish emergency networks and help firms that are assisting in the rescue effort, above others.

Sichuan, where the quake hit, contains oil and gas fields, filling stations, oil storage facilities and pipelines and is a crucial industrial region.


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