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Chinese State Firms Tasked with Stockpiling 60mn bbls

OIL

Chinese state oil companies have been told by the government to add 8mn metric tons (around 60mn bbls) of crude to the country’s emergency stockpiles according to Vortexa.

  • The stockpiling programme covers July through March next year.
  • CNPC, Sinopec, CNOOC, Sinochem and Zhenhua Oil - have been tasked with the stockpiling.

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