China’s crude oil reserve was estimated to stand at 108.6 billion tonnes, the Ministry of Land and Resources (MLR) said on Monday.
About 21.2 billion tonnes of crude could be developed under the current technology, said the MLR.
Tags: crude-oil
The Ministry of Economic Affairs (MOEA) announced yesterday that the gasoline and diesel prices will be adjusted every week to more accurately reflect fluctuations of international crude oil prices.
Starting Aug. 8, oil prices will be reviewed every Friday and adjusted based on the average international oil price recorded during the previous trading days within the [...]
The Guangdong provincial government is mulling investing RMB 6 billion (US$880 million) to build two strategic crude oil and oil product reserve bases respectively in Huizhou and Shenzhen, in an effort to ease local fuel shortage, according to a statement released by the National Development and Reform Commission of the southern province.
The two oil storages [...]
South China’s Guangdong Province, the largest oil consumer and importer in the country, is planning an investment totaling 6 billion yuan ($880 million) to build two strategic crude oil and oil product reserve bases, which was listed in the province’s top 10 new projects mapped by Guangdong’s provincial economic planning body, according to the Caijing.
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China’s leading oilfield, Daqing, said on Thursday it will make efforts to maintain high output, to ease oil shortage in domestic market.
Daqing aims to produce around 40 million tonnes of crude oil every year in the next 10 years, said Wang Yupu, the oilfield’s general manager.
Tags: crude-oil, Oilfield
China, the world’s second-largest energy consumer, imported 11 percent more crude oil in the first half of 2008 than in the year-earlier period.
Crude imports stood at 90.53 million tons, the General Administration of Customs said on Thursday. The growth rate was down 0.2 percentage points from last year.
Tags: crude-oil, import
