09-11-06

China plans to start delivering oil to its third strategic reserve in Huangdao, Shandong Province from next April, according to an official from the National Development and Reform Commission.
The first phase of the new reserve, with capacity of 3.2 mm cm, will hold enough oil to meet the country's total needs for three days.

In recent weeks, China started filling its second strategic reserve in Zhoushan, Zhejiang Province.
The report said once the four strategic reserves the government plans to build have been completed and filled, the country will have stocks equivalent to 10 days of crude oil exports.