China is the world's largest importer of crude
Oil market poised for China showdown
China puts the strategic in SPR as it looks to utilise record oil storage
“China’s oil storage model is based on the strategic reserves around the world,” said tank storage expert Tony Quinn at the annual PGLC petrochemicals logistics event in Marseille in June. “Like with most things, China copies from elsewhere and then does it better, and that is exactly the case with strategic petroleum reserves, as the country’s facilities are enormous and the terminals’ spare capacity is vast,” pointed out the CEO of Tankbank International and operating partner of Prostar Capital, who has close business ties with China’s state-controlled oil giant Sinopec. China may have arrived late to the oil security game, but in the past 20 years it has created significant capacity and a
Also in this section
14 March 2025
Gas production slumped to an eight-year low in 2024, but new discoveries and partnership with Cyprus paint a more positive outlook
13 March 2025
Gas will become a more important part of the energy mix longer-term, raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
