Sinochem plans up to 6 million cu m SPR in Shandong

摘要

Singapore—China’s state-run trader Sinochem Group plans to build a 5-6 million cubic meter (31.4-37.7 million barrels) strategic petroleum reserve facility in East China’s Shandong province, a source with the company said May 18. “We have submitted a plan to the government, but have not received approval yet,” the source noted, adding that this would be part of China’s third SPR phase.