Related Articles
Forward article link
Share PDF with colleagues

China is stockpiling cheap crude in reserves

The country has a long way to go to reach its 2020 Strategic Petroleum Reserve target

There is little doubt that China has used the steep drop in the oil price to accelerate the filling of its Strategic Petroleum Reserve (SPR), a stockpile of crude set aside to help them ride out disasters or war.  But putting a figure on exactly how much oil is in the SPR is notoriously difficult. Unlike other countries, Beijing considers its SPR a state secret and rarely discusses it. The government has said that it aims to hold the equivalent of 90 days of net imports, the standard for International Energy Agency member countries, by 2020. Assuming imports rise to around 8m barrels per day (b/d) by that time, the country would need an SPR holding of around 700m barrels to reach the targe

Also in this section
Electric vehicles—if you build it...
26 June 2017
While EV charging stations are expanding rapidly in Europe, the US uptake is slower
New electric mobility
26 June 2017
Surging green energy generation is creating surpluses, in turn supporting the rise of electric transport
EV's good vibrations
19 June 2017
The Golden State prepares to tax petroleum demand into decline, promoting electric and zero-emissions vehicles