VOL. XLVI

No 50

15-December-2003

SUPPLY/DEMAND

China Plans Strategic Petroleum Reserve As Demand Booms

The Chinese government is preparing to sanction a $725mn project to construct four tank farms under the first phase of a plan to build up a strategic petroleum reserve. The Xinhua news agency reported on 4 December that the project would involve the construction of four tanks farms on the Chinese coast. Proposed sites are at Aoshan and Zhenhai in Zheijang province, at Huangdao in Shandong...