From The Wall Street Journal: As the U.S. seeks to stockpile oil, China has been doing the same, observers say, and is expected to quicken the pace — a development that already may be helping to boost oil prices. On...
China, the world’s second largest oil consumer, will build up its oil reserve faster and much larger. From MarketWatch.com : China’s plans to build its strategic petroleum reserves to at least 100 million barrels by...
China is rolling out a new timetable for the building of it oil reserves, vice minister Lu Deming (ÈôàÂæ∑Èì≠) of the National Development and Reform Commission said while attending a China-US oil and gas industry forum in the United States on Sept. 11. China will quadruple its current oil reserve level in three years, from […]
From Financial Times: High global prices have prompted China to stagger oil purchases for its strategic reserves, which are unlikely to exceed the equivalent of one month’s imports by 2010, said Beijing’s energy chief. Beijing did not want to invest heavily when oil was expensive, especially as aggressive stockpiling by the fastest-growing main economy could […]
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