Although Zhang did not provide any figures of planned capacity in the second phase, he confirmed that China planned to build up enough stocks to cover 90 days of demand, the level of stockpiles required in order for countries to be eligible to join the International Energy Agency.
China Launches Second Stage Of Oil Storage Programme
06.05.2009 - NEWS
The Chinese government has approved plans to build a second phase of strategic crude reserves, with construction due to start this year, according to a statement by Zhang Guobao, the head of the National Energy Administration (NEA).
