Others News
- City planning to triple oil storage capacity
Date: 31-Jul-2007 Sources: (Shenzhen Daily)
SHENZHEN plans to triple its storage capacity for oil and oil products to cover 30 days of supplies, media reports said last week.
Shenzhen currently has the capacity to store 100,000 tons (790,000 barrels) of oil and plans to increase the figure to 300,000 tons, the China Petrochemical News said, citing a report on China Economic Net. China is boosting its storage facilities nationwide to guarantee supplies in emergencies and when oil imports are cut. China's daily oil consumption in 2006 was 7.45 million barrels of oil a day, an increase of 6.7 percent over 2005, according to BP PLC's Statistical Review of World Energy 2007. That represented about 9 percent of the world's daily oil use in that year.
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