Middle East Economic Survey


No 19



China Approves Storage Plan For 10Mn Tons Of Refined Products

China has approved a plan to build by 2011 storage facilities to hold 10mn tons of refined products, Reuters reported on 6 May. The products inventories are intended to be the equivalent of two weeks worth of gasoline, diesel and kerosene consumption. China has recently completed the first stage of a strategic crude oil reserve that could meet one-month of the countrys...