• search

Chinese province plans 10 mln cubic metre crude stockpile

Written by: Staff
|

BEIJING, Mar 4 (Reuters) An oil reserves base that China's southern Guangdong proposes to build would stockpile 10 million cubic metres of crude oil and 2 million cubic metres of refinery products, the official Xinhua news agency reported on Saturday.

The project would cost 5 billion yuan (5 million dollars), Xinhua said.

A state newspaper said on Tuesday that the central government was considering the proposed reserves base. China is already going ahead with such bases in two eastern provinces, Zhejiang and Shandong, and in Liaoning, in the northeast.

Under Guangdong's development plan for its refining industry, annual refining capacity would reach 63 million tons by 2010, Xinhua said.

The province consumed nearly a third of China's imports, it added.

REUTERS SD ND1726

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more