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China uncovers nearly 20,000 disaster risks in oil, gas sector

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China has found nearly 20,000 potential hazards in petrochemical firms and oil storage sites during a safety probe following the November 2013 pipeline explosion that killed 62 people, Wang Haoshui, inspector with the administration in charge of safety at petrochemical plants, said.

The explosion caused direct economic loss of 750 million Chinese yuan ($123.9 million), Reuters reported.

Industry officials expect stringent punishment for China Petroleum & Chemical Corp. over the blast.

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