First strategic oil reserve due for completion by August

China will complete construction of its first strategic oil reserve facility in Zhenhai, East China’s Zhejiang Province, in August, a top energy official said in Beijing on Friday.

But he refused to comment on when the pumping of crude oil into the Zhenhai reserve would begin.

“A lot of people ask what China should do (with these tanks) as global crude prices are soaring We have our own solutions, but I won’t disclose them,” Xu told an energy forum.

China Daily