Filling China's tanks
Beijing is working hard to put its SPR expansion programme back on track
The US may be selling off a substantial amount of its own Strategic Petroleum Reserve (SPR), but China is determined to keep building up its emergency stores of oil. As the White House calls for the sale of 270m barrels of crude from its SPR next year, which would mean the closure of two of four sites on the Gulf Coast, China is pushing ahead with the second stage of a long-term storage plan, now due for completion in 2020, after falling behind schedule. As a study published in July by China's National Natural Science Foundation points out, this would see the construction of eight new sites located in inland regions, most of them near geographically convenient ports serving areas of high dem
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
