| Abstract: | China is accelerating the build-up of its oil reserves to avoid the economic dislocations the country suffered in 2008 from fluctuations in the world oil price.China will,in addition to the current four strategic petroleum reserve bases,build eight new ones by 2011.The program will increase China's strategic crude reserve capacity to 44.6 million cubic meters,or 281 million barrels.The country will also increase its oil products reserve to 10 million tons by 2011."China's attentiveness to its oil reserve capacity has grown in tandem with its rising dependence on imported oil," said Pan Jiahua,an expert with the Chinese petroleum society. |
