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* China - Rationing diesel amid shortages
Beijing,China -Associated Press, by JOE McDONALD -Oct. 30, 2007: -- Gas stations in China's fast-growing southeast were rationing diesel fuel Tuesday because of severe shortages amid soaring demand. The move disrupted trucking and prompted accusations that oil companies were hoarding supplies... In the export-driven coastal provinces of Guangdong, Zhejiang and Fujian, truck drivers lined up to buy as little as a quarter-tank at a time, and some stations closed for lack of supplies, news reports and trucking companies said... They said supplies began running short about a week ago... China's major oil companies — China National Petroleum Corp. and China Petroleum & Chemical Corp., also known as Sinopec — blame the shortage on bad weather that disrupted supplies... But they also say government controls that have frozen retail diesel and gasoline prices have inflicted huge losses on refiners that must pay soaring world prices for crude oil, discouraging them from expanding supplies...
Labels: fuel troubles
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