  |
China to complete four strategic oil reserve facilities this year
AFP
BEIJING
Petroleumworld.com 07 11 06
China will complete construction of four strategic oil reserve facilities this year, boosting its storage capacity by up to 12 million tons, state media reported Monday.
Ma Kai, minister of the National Development and Reform Commission and director of the National Energy Office, said four petroleum bases with a total storage capacity of between 10 and 12 million tons will be completed this year, Xinhua news agency reported.
Two oil reserve bases will be located in the eastern province of Zhejiang while another two will be located in Shandong and Liaoning provinces respectively, the report said.
Last month, China Daily said one of the stores in Zhejiang, located in the coastal city of Zhenhai, would be completed in August.
The four strategic oil reserve bases are expected to hold supplies for at least 30 days, it said.
Ma said the construction of oil reserve facilities will accelerate between now and 2010, with a second and third phase -- each with a capacity of 28 million tons -- already in the pipeline, according to the report.
Ma also said overseas cooperation in crude oil production will be strengthened in future.
China, the world's second-biggest oil consumer after the United States, used about 318 million tons of oil last year, of which 40 percent, or about 127 tons were imported, according to earlier reports.
AFP 10 0959 GMT 07 06
Copyright ©2006 AFP. All Rights Reserved.
Your
feedback is important to us!
We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com
Any
question or suggestions, please write to:
editor@petroleumworld.com
Best
Viewed with IE
5.01+
Windows
NT 4.0, '95, '98 and ME +/ 800x600 pixels