China is the world's largest importer of crude
Oil market poised for China showdown
China puts the strategic in SPR as it looks to utilise record oil storage
“China’s oil storage model is based on the strategic reserves around the world,” said tank storage expert Tony Quinn at the annual PGLC petrochemicals logistics event in Marseille in June. “Like with most things, China copies from elsewhere and then does it better, and that is exactly the case with strategic petroleum reserves, as the country’s facilities are enormous and the terminals’ spare capacity is vast,” pointed out the CEO of Tankbank International and operating partner of Prostar Capital, who has close business ties with China’s state-controlled oil giant Sinopec. China may have arrived late to the oil security game, but in the past 20 years it has created significant capacity and a
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
