[photopress:hainan.jpg,full,alignright]An oil reserve base may be built at China’s southernmost island province of Hainan. Wei Liucheng, secretary of the Hainan Provincial Committee, said, ‘We are currently negotiating with international petroleum syndicates to this end.’
Wei said that ‘Hainan boasts distinctive advantages in building both a national strategic oil reserve base and a commercial oil reserve base.’
He said the island lies near main international oil shipping routes, and that any oil reserve would be complemented by the 300,000-ton crude oil wharf currently located in the Yangpu Economic Development Zone on the island.
China is already building four first-phase strategic oil reserve bases in Zhenhai and Daishan in Zhejiang Province, Huangdao near Qingdao City of Shandong Province and Dalian in Liaoning Province.
Wei is a deputy to the Tenth National People’s Congress (NPC), China’s top legislature currently in its annual session in Beijing. His remarks came at a panel discussion of Hainan lawmakers.
Source: Xinhua