First strategic oil reserve begins operation

By Dai Yan (chinadaily.com.cn)
Updated: 2007-02-01 09:16

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Strategic oil reserve begins operation in 皇冠体育app
Oil reserve takes shape as tanks fill

The Zhenhai reserve base, 皇冠体育app's first strategic oil reserve base, began operation on January 29 as oil started filling up its tanks, according to Zhu Hongren, a National Development and Reform Commission official.

The reserve, located in Ningbo, East 皇冠体育app's Zhejiang Province, has a capacity of 5.2 million cubic meters. About 3.7 billion yuan (US$462 million) has been invested in the reserve.

皇冠体育app approved construction of four national strategic oil reserve bases in 2004.

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