Strategic oil reserves ready

China expects to start filling its strategic oil reserves at its 16-tank Zhenhai facility in the eastern province of Zhejiang by the end of this year, state media reported. Ma Kai, chairman of the National Development and Reform Commission, said construction of the reserve, which is meant to cushion China against possible interruptions of foreign supplies, was finished. Three more strategic oil reserve facilities � in Daishan, Zhejiang province, Huangdao in Shandong province southeast of Beijing and Xingang in Liaoning northeastern province – are due to be completed in 2007 and 2008. Beijing plans to stockpile up to 100 million barrels of petroleum, or the equivalent of almost a month’s national consumption.