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Sinopec to punish branches in diesel price rigging

11-25-2010 09:05 BJT

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After the NDRC's report on the diesel market, our reporter talked to Sinopec's spokesman. Huang Wensheng says the company's headquarters will punish those responsible for selling diesel at prices above the ceiling set by the government, and investigate other branch companies. He also says the company is increasing diesel production to tackle shortages.

Huang Wensheng, Sinopec Spokesman said "After the NDRC issued the notice, we began investigation immediately. The two branch companies had purchased and sold diesel at a price above the state-set ceiling. They violated both the government's and our company's rules. We have instructed them to pay the fine and hand in the profits from the price rigging right away. Those who are responsible will be punished. The headquarters have issued a notice, requiring all branch companies to follow government rules. Meanwhile, we are trying our best to increase diesel production to ensure supply in the market."

Editor:Xiong Qu |Source: CNTV.CN

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