China to fill its 3rd strategic oil reserve

BEIJING: China plans to begin filling the tanks at its third strategic oil reserve in its eastern Shandong Province by the middle of this year to help secure the country’s fuel supplies.

China Petroleum and Chemical Corporation (Sinopec) will complete the Huangdao base in Shandong, said Du Guosheng, assistant to the president of Sinopec.



The capacity of the Huangdao base is expected to reach 19 million barrels, Du said.

China began building four oil reserves in 2004. Two are in Zhejiang Province, both of which have started operating. The others are respectively in northeast China’s Liaoning Province, which has not be completed, and in Shandong Province, which will be in operation by the middle of this year.

Times of India