China's strategic reserves capacity to double by 2011

09/21/2009
China's strategic petroleum reserves capacity will have doubled by 2011-12. This rapid expansion of Chinese petroleum storage capability, coupled with robust growth in oil demand, will only see China's demand for imports—particularly of crude oil—grow. Such growth will create potential difficulties for China, Asia, and the world at large.This article provides an overview of recent developments in China's strategic petroleum reserves and commercial storage.SPRChina's SPRs are being constructed in three phases.Phase I entered service at the end of 2008, with crude storage capacity of 103 million bbl. Phase II will have 168.6 million bbl capacity and be completed by 2011-12. Chin...
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