PetroChina adds 1.5m cu m of oil storage capacity

China National Petroleum Corp (CNPC), the country's leading oil and gas producer, added 1.5 million cu m of oil storage capacity in the first three quarters of this year, the company said yesterday.

CNPC had also completed early-stage works for 24 oil storing projects from January to September, the company said in a statement on its website, without elaborating.

China's leading oil companies like CNPC and Sinopec have all accelerated the construction of their own commercial oil stockpile. Sinochem Corp is likely to complete a 2-million-cu-m oil reserve in Zhoushan in Zhejiang province next year, sources close to the project earlier told China Daily.