China will purchase strategic oil reserves in batc

  • Detail

China will purchase strategic oil reserves in batches

China's top official in charge of energy affairs said a few days ago that high global oil prices have forced China to purchase strategic oil reserves in batches. By 2010, China's strategic oil reserves have seriously affected the healthy and orderly development of the wood plastic industry, and it is unlikely to exceed the import volume equivalent to one month

chendeming, deputy director of the national development and Reform Commission (NDRC), said that the Chinese government does not want to purchase in large quantities when oil prices are high, and China, as the world's fastest-growing major economy, may have a significant impact on the international market if it rapidly increases reserves. The national development and Reform Commission is China's economic planning department

"by 2010, our reserves can reach the equivalent of about 30 days of imports," Chen Deming said when attending the Boao Forum for Asia in Hainan Province. "We can't go too fast... If China reserves a lot, it may also have some impact on the (International) price of taking samples."

he said that this was his personal conservative estimate. According to the guidelines of the internationalenergyagency, a country should maintain a strategic reserve equivalent to 90 days of imports

Chen Deming also pointed out that in view of the difficulties China faces in obtaining sufficient uranium supply, China will continue to regard nuclear energy as a "substitute" energy source. Chen Deming has been in charge of China's energy policy since last year

due to the limited global supply of nuclear raw materials, it has been suggested that the Chinese government should establish uranium reserves

China plans to build a total of 60million kilowatts of nuclear power generation, which is less than the power generation capacity of new coal-fired power plants every year

China's economy grew by more than 11% in the first quarter of this year. In order to provide fuel for the fast-growing economy, China needs to import at least 185 million tons of crude oil this year, nearly half of the total demand

China's increasing dependence on imported oil is having a wide range of impacts, including global crude oil. At the same time, the range of losses of paper companies has also expanded, prices and China's military policy. China is building a strong navy to protect supply lines that extend to Southeast Asia and the Middle East

China is building the first phase of the strategic reserve project, including the reserve banks located in four coastal cities. These facilities have a reserve capacity of more than 16million tons, and the second phase of West China International Plastic exhibition will build the best platform for exhibitors and visitors to have 1-to-1 pairing and exchange talks. The process will include some inland reserve points, and the reserve capacity will be more than twice that of the first phase

Copyright © 2011 JIN SHI