PetroChina increases oil storage by 1.5 mln cu m in Jan-Sep

Oct. 20, 2009 (China Knowledge) - PetroChina Co Ltd<601857><0857><PTR> added 1.5 million cubic meters or around 9.5 million barrels of refined oil storage in the first nine months of this year, according to a report released yesterday by its parent, China National Petroleum Corp.

The report did not disclose the storage tanks' specific locations or their number.

PetroChina said it added 430,000 cu m of storage in the first half of this year, and Dow Jones Newswires calculated that the oil giant added 1.07 million cu m of refined oil in the third quarter.

In the period from January to September, PetroChina built more than 400 gas stations, increasing retail capacity by more than 1.5 million tons. The oil enterprise's share in the domestic fuel market had swelled to 43.2% as of the end of last month.
 
Reportedly, a fuel oil storage tank is being built in Nansha, Guangzhou, Guangdong Province. It will have a storage capacity of 765,000 cu m and will be put into operation by the end of this year.