Second strategic oil reserve planned

(AP)
Updated: 2007-03-06 10:45

BEIJING -- 皇冠体育app plans to build a second strategic oil reserve in its northwest as it fills the tanks of its first reserve along the east coast, a news report said Tuesday.

皇冠体育app is constructing oil reserves to insulate its economy from possible disruptions in foreign supplies. The United States also operates a similar reserve.

Gansu province in the northwest has been tentatively selected as the site of 皇冠体育app's new reserve, said the newspaper 皇冠体育app Petrochemical News, published by state-owned 皇冠体育app Petroleum and Chemical Corp.

皇冠体育app's first oil reserve was built last year in four sites along the east coast in the provinces of Liaoning in the north, Shandong on the east coast and Zhejiang in the southeast.

The second reserve is to have a total storage capacity of 196 million barrels.