PetroChina halts oil exports in wake of earthquake
16 May 2008
PetroChina Co has suspended exports of oil products to meet "robust" domestic demand following Monday's earthquake in Sichuan province, Bloomberg reported. PetroChina chairman Jiang Jiemin did not say when the exports were halted or how long the suspension would last. At the same press conference, however, Jiang told reporters in Beijing that the company may cancel plans to build a US$7.1 billion refinery and chemical plant outside Chengdu. Fifty-six workers from China's biggest oil producer were injured in the earthquake and six are missing. In Hong Kong, shares of PetroChina fell 0.6% Thursday to HK$10.90 (US$1.40).
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