Bloomberg News

China’s Emergency Crude-Oil Storage Bases

June 14, 2012

The following table shows China’s emergency-crude storage sites.

The country plans to build reserves in three phases to hold the equivalent of 100 days of net imports by 2020. That’s about 600 million barrels, based on China’s imports of 6 million barrels a day last month. The U.S. held 696 million barrels in its Strategic Petroleum Reserve as of June 1, Energy Information Administration data show.

China finished building the first phase of its storage in 2009 and spent an average $58 a barrel buying crude for the stockpiles in 2008, according to the National Energy Administration in a statement on June 1, 2009. Construction of the second phase will be completed this year, China National Petroleum Corp., the nation’s biggest oil company, said January.

===============================================================
Builder    Second-Phase Sites      Capacity        Status
                               (million barrels)
===============================================================
===============================================================
Builder    Second-Phase Sites      Capacity        Status
===============================================================
CNPC       Dushanzi, Xinjiang        18.9          Operational
CNPC       Lanzhou, Gansu            18.9          Operational
CNPC       Jinzhou, Liaoning         18.9          Building
CNPC       Shanshan, Xinjiang        39.0          Building
CNPC       Jintan, Jiangsu           15.7          Building
CNOOC      Huizhou, Guangdong        31.4          Building
Sinopec    Tianjin                   20.1          Building
Sinopec    Zhanjiang, Guangdong      44.0          Building
---------------------------------------------------------------
Second-phase total                  206.9

===============================================================
Builder    First-Phase Sites       Capacity        Status
===============================================================
CNPC       Dalian, Liaoning          18.9          Operational
Sinopec    Zhenhai, Zhejiang         32.7          Operational
Sinopec    Huangdao, Shandong        20.1          Operational
Sinochem   Zhoushan, Zhejiang        31.5          Operational
---------------------------------------------------------------
First-phase total                   103.2
===============================================================
NOTE: Second-phase data is according to CNPC’s annual oil and
gas research report published in February. First-phase details
are according to information from state media and national oil
companies compiled by Bloomberg.

To contact Bloomberg News staff for this story: Chua Baizhen in Beijing at bchua14@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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