South Korea seen delaying strategic oil reserves fill

摘要

Seoul-South Korea is expected to further delay plans to increase its strategic oil reserves by 30% by 2010, despite recent falls in global crude prices, energy officials said February 17. The country had originally aimed to boost state-held oil reserves to 101 million barrels from 76 million barrels by the end of 2008 to cushion it from the impact of global crude price hikes and possible supply disruptions. But when global crude markets surged to record highs in July last year, the government pushed the target back by two years to the end of 2010.