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PetroChina starts building commercial crude storage facility in Daqing

(Agencies)
Updated: 2008-05-06 16:09

PetroChina Co Ltd, the country's top oil and gas producer, has started building a commercial crude oil storage facility in Daqing, in northeastern China's Heilongjiang province, parent China National Petroleum Corp said.

The facility, involving total investment of nearly 1.2 billion yuan ($171.71 million), has a designed capacity of 1.2 million cubic meters, it said.

The facility will store Russian oil as well as crude pumped from the Daqing field, it noted.

The project is PetroChina's fourth commercial oil storage base after facilities in Shanshan in the Xinjiang region, Lanzhou in Gansu province, and Tieling in Liaoning province.

The company did not say when the new facility is due to enter operations.

(For more biz stories, please visit Industries)