The construction of oil reserve bases in China will be
accelerated between now and 2010 to meet rising market demand for
energy, according to a leading Chinese energy official.
Ma Kai, minister in charge of the National Development and
Reform Commission and director of the newly-built National Energy
Office, said four petroleum bases, located in Zhejiang, Shandong
and Liaoning provinces respectively, will be completed this year,
with a total storage capacity of between 10 million and 12 million
tons.
The government is considering the location of new bases for the
second phase of the project, which are expected to store 28 million
tons of petroleum. The third phase, also with a storage capacity of
28 million tons, is still under planning.
China set up a task force earlier this year to draft the energy
law which can ensure national economic security, energy
exploitation and international energy cooperation.
Ma said energy conservation is a fundamental way for China to
resolve its energy-shortage problem. The minister urged local
governments to explore renewable energy resources.
Overseas cooperation in crude oil production will also be
strengthened in future, said Ma.
(Xinhua News Agency July 11, 2006)
