China has started construction of a strategic oil reserve base in Lanzhou city in northwestern Gansu province as part of the nation’s second phase of strategic oil stockpiling plan.
The base was the second of this kind in the country’s northwestern region. In September 2009, it kicked off construction on Dushanzi state oil tanks in Xinjiang.
The Lanzhou base, with storage capacity of 3 million cu.m or around 18.9 million barrels, will be built at an estimated cost of 2.38 billion CNY (348.6 million USD) and be ready for use in the first half of 2011.
The first phase of Dushanzi state oil reserve tanks in Xinjiang also has a capacity of 3 million cu.m and is expected to be completed by July 2011.
China has said it will build the second-phase of a strategic crude oil reserve with a capacity of 26.8 million cu.m or nearly 170 million barrels, after filling its first four reserve bases that have total capacity of 100 million barrels along its coastal region./.
The base was the second of this kind in the country’s northwestern region. In September 2009, it kicked off construction on Dushanzi state oil tanks in Xinjiang.
The Lanzhou base, with storage capacity of 3 million cu.m or around 18.9 million barrels, will be built at an estimated cost of 2.38 billion CNY (348.6 million USD) and be ready for use in the first half of 2011.
The first phase of Dushanzi state oil reserve tanks in Xinjiang also has a capacity of 3 million cu.m and is expected to be completed by July 2011.
China has said it will build the second-phase of a strategic crude oil reserve with a capacity of 26.8 million cu.m or nearly 170 million barrels, after filling its first four reserve bases that have total capacity of 100 million barrels along its coastal region./.
