China May Allow State Oil Cos to Build Fuel Reserves in South

South China may allow state-owned oil companies to build strategic fuel reserves in the country’s south as a cushion against future shortages and price rises, the Wen Wei newspaper reported, quoting a senior Shenzhen Municipality official.

Shenzhen Development and Reform Bureau vice-director Shen Yi was quoted as saying that PetroChina and Sinopec, China’s largest oil companies, may be allowed to stockpile oil in Guangdong province.
Forbes