25 April 2024
China offers first glimpse at oil reserves
Publication date: 20 November 2014
Gas Strategies Group
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China has enough oil in emergency storage to cover demand for around a week and a half, according to the first batch of official data on the country’s national petroleum reserve. The country’s strategic reserves can hold roughly 1visual_editor0 million barrels worth of oil across a group of sites, which currently contain 91 million barrels of supply, placing reserves at around 75% of maximum capacity, China’s national statistics bureau reported on Thursday.