Ten storage facilities to hold 22.4b cu m of the clean fuel
China National Petroleum Corp (CNPC), the country’s largest oil and gas producer, plans to build 10 natural gas storage facilities between 2011 and 2015 to stockpile the fuel in the face of rising demand, said a company executive.
The 10 storage sites will be able [...]
China National Petroleum Corp (CNPC) and China Petroleum &Chemical Corporation (Sinopec), the country’s leading oil and gas producers, began to heat up wholesale prices of refined oil following the rebound of crude oil prices in the international marketplace.
Between Feb. 20 and Feb. 22, wholesale prices of diesel and gasoline rose more than 100 yuan ($14.64) [...]
The Sino-Kazak Pipeline has piped more than 20 million tons of crude oil from Kazakhstan to China since it became operational in 2006, according to the regional government of Xinjiang.
Last year, the pipeline carried 7.73 million tons of crude oil into China, up 26 percent year-on-year, the inspection and quarantine bureau in the northwestern Xinjiang [...]
China’s oil imports will continue to see solid growth this year, with more than half of the country’s total oil consumption coming from abroad, industry insiders said.
It is inevitable for the country - the world’s second largest oil consumer - to see a robust increase of imports, as domestic production cannot keep up with rising [...]
China has started building the Lanzhou strategic oil reserve base in northwestern Gansu province after kicking off construction on Dushanzi state oil tanks in Xinjiang in September, part of China’s second phase of its strategic oil stockpiling plan.
Officials from the National Development and Reform Commission (NDRC), the National Energy Administration, top oil firm CNPC and [...]
China has begun work on a 3-million-cubic-meter oil reserve base in Gansu Province.
The strategic oil stockpiling project, in Lanzhou, costs 2.38 billion yuan (US$348.6 million) and is expected to come into operation in the first half of 2011, China National Petroleum Corp said yesterday.
“Building the state oil reserve bases is conducive to avert oil supply [...]
