First strategic oil reserve begins operation

By Dai Yan (chinadaily.com.cn)
Updated: 2007-02-01 09:16

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Strategic oil reserve begins operation in China
Oil reserve takes shape as tanks fill

The Zhenhai reserve base, China's first strategic oil reserve base, began operation on January 29 as oil started filling up its tanks, according to Zhu Hongren, a National Development and Reform Commission official.

The reserve, located in Ningbo, East China's Zhejiang Province, has a capacity of 5.2 million cubic meters. About 3.7 billion yuan (US$462 million) has been invested in the reserve.

China approved construction of four national strategic oil reserve bases in 2004.

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The full text is available in the January Issue of China Energy.

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