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Zhang Guobao said that at present, of the four strategic petroleum reserve bases planned for the first phase, the reserve base of Zhejiang Zhenhai has been completed and oil storage has begun. The base of Zhoushan is basically completed, and the reserve bases of Huangdao and Dalian are soon to be completed.
Zhang Guobao said that China’s oil reserves do not stipulate how much it must purchase each month, but rather reserve according to changes in the international oil market.
NDRC Denies Rumor of Loss of Oil Reserves
According to the Jinghua Times, yesterday, Zhang Guobao, member of the National Committee of the Chinese People's Political Consultative Conference and deputy director of the National Development and Reform Commission, stated that when China was carrying out oil reserves, the oil price in the international oil market had entered a relatively high period, but there was no loss that the outsiders said.