Zhoushan National Strategic Petroleum Reserve Base Ready to Store Oil

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Researched by Industrial Info Resources (Sugar Land, Texas). Intermediate handover of six 100,000 cubic meter storage tanks (about 90,000 tons) of crude oil in the first phase of the Zhoushan National Petroleum Reserve Base in Zhejiang province, one of the four petroleum reserve bases in the first batch of national strategic petroleum reserve bases, has been carried out, announced China National Petroleum Corporation (CNPC). This marks the completion of the first phase project and the base is ready to fill oil.

The Zhoushan National Petroleum Reserve Base will use the 250,000 ton and 100,000 ton oil berths and main oil transmission piping resources available at Sinochem-Xingzhong Oil Staging (Zhoushan) Company, Limited for the input and output of oil products, which could carry out the loading and unloading of crude oil or product oil tankers ranging from 5,000 tons to 300,000 tons.

Except for the Zhoushan base, the first phase of Huangdao National Petroleum Reserve Base in Shangdong province has been completed within the last month. The Huangdao base also belongs to the first batch of national strategic petroleum reserve bases. The base has 32 storage tanks in the first phase with a capacity of 100,000 cubic meters each. This is equivalent to the national crude oil consumption in three days.

Construction of the first four national petroleum reserve bases started in 2003 in the coastal region of China, with a total storage capacity of 14 million tons. Presently, the Zhenhai, Zhoushan and Huangdao bases have been completed. Following the completion of the first batch of national petroleum reserve bases, the selection of sites for the second batch of national petroleum reserve bases will soon be finalized. The news regarding the find of the Jidong Nanpu Oilfield with a reserve of one billion tons by CNPC last week will have an effect on the selection of sites for the second batch of national petroleum reserve bases. The location of the Nanpu Oilfield in Caohuidian, Hebei province is being considered as one of the national petroleum reserve bases.

China began planning the national petroleum reserve project in 1993, with approval coming in 2004. The total investment will be over $13.02 billion and is expected to be completed in three phases within fifteen years.

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