China has been making active efforts to establish oil reserves
to ensure national energy and economy safety, Ma Kai, minister in
charge of the National Development and Reform Commission (NDRC),
said Wednesday.
In line with international practice, petroleum will be stored at
oil bases by both government and enterprise, Ma said at a press
conference on the sidelines of the parliamentary session.
"The two sectors of the oil reserve system are well underway,"
said the minister, noting that it takes time to make the reserves
perfect.
Wei Liucheng, Communist Party chief of China's southernmost
province of Hainan, said Tuesday the province is actively seeking
to establish an oil reserve base.
Though declined to give more details, Wei said the provincial
government is negotiating with international petroleum syndicates
on the issue and "Hainan boasts distinctive advantages for building
both national strategic oil reserve base and commercial oil reserve
base."
He pointed out that the tropical island is located near the main
international sea routes for oil shipping, and that a 300,000- ton
crude oil wharf is already in operation in the Yangpu Economic
Development Zone on the island.
(Xinhua News Agency March 7, 2007)