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The Progress in Developing China’s Oil Reserve System
Gateway International Group Ltd, December 2011, Pages: 8
At present, China has built a two-level oil reserve system with the national strategic oil reserves as the main component and commercial reserves held by state-owned oil enterprises as the supplementary part, with a total oil reserve capacity of more than 30 days. By 2020, China will establish a four-level oil reserve system with national strategic oil reserves, local oil reserves, commercial oil reserves held by state-owned oil enterprises like PetroChina and commercial oil reserves held by small and medium-sized companies. The goal is to guarantee a 90 day supply of oil.
I. Current Situation in the Oil Reserve System
II. The Future of the Oil Reserve System
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