Middle East Economic Survey


No 52


China Considering Underground Oil Storage

China is considering establishing underground oil storage facilities in a second phase of development of its strategic oil reserve. Chinese imports reached a new monthly average record of 3.29mn b/d in November, as filling began of the first crude oil storage tanks to be completed out of a total 100mn barrels of capacity under construction at four major refining centers (MEES, 20 November). National...