China building depots for strategic oil reserve
(chinadaily.com.cn)
Updated: 2006-03-06 15:30

China is constructing four depots for national strategic oil reserve, and one of them will be ready for operation at end of this year, a planning official said in Beijing Monday, March 6.

The one, located in Zhenhai, east China's Zhejiang province, is basically completed and operational at the year end, and could be filled at an approriate time, said Ma Kai, minister of the National Reform and Development Commission.

He made the remarks at a press conference in the Great Hall of the People when asked by a foreign journalist about China's strategic oil reserve. At the press conference, Ma explained China's 11th five-year plan, to be deliberated and approved by the ongoing session of the National People's Congress, the parliament.

He said the other three could be finished next year or in 2008.

China is at its early stage in building a national system of oil strategic reserve.