Building a world of
resilient communities.

MAIN LIST

 

China Plans to Start Filling Strategic Oil Reserve in 2006

Jan. 6 (Bloomberg) -- China, the world's second-biggest oil consumer after the U.S., plans to start filling a government- controlled strategic oil reserve next year, a Chinese official said.

It's ``too early to say exactly when'' in 2006 the fill will start, Zhang Xiaoqiang, vice chairman of China's National Development and Reform Commission, said in an interview in New Delhi.

China wants bigger inventories to secure energy needs as it becomes more reliant on imports to maintain the world's fastest- growing major economy. The government plans to boost emergency stockpiles to 90 days worth of demand by 2010, officials at state oil companies have said. For now, Chinese companies typically hold up to 30 days worth, or less.

The country's oil imports in 2004 may exceed 130 million metric tons, Xiaoqiang said earlier today, while attending a meeting of buyers and sellers, including Middle East producers Saudi Arabia and Iran.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

Fracking and Health: What we Know from Pennsylvania's Gas Boom

Tensions between economic development, energy policy and environmental and …

Peak Oil Review: A Midweek Update - 24th Aug 2016

 A midweek update. It has been a volatile three days for oil with …

How We Went on an Energy Diet, and What We Lost (and Gained!)

In which I reveal the changes in our household energy usage from 2003 …

Five Billion Years of Energy Supply: the "Stereosphere" and the Upcoming Photovoltaic Revolution

Both the biosphere and the stereosphere use solar light as the energy …

Peak Oil Review - Aug 22 2016

 A weekly roundup of peak oil  news, including: -Oil and the …

Limitless imagination and physical limits

How do we distinguish those ideas that are forever going to remain in the …

Some Reflections on the Twilight of the Oil Age (part III)

The impact of the Tooth Fairy Syndrome is all the more felt in the main …