China's CNOOC plans 1.2m cbm crude tank farm in Shandong

07 June 2012 09:31  [Source: ICIS news]

SINGAPORE (ICIS)--China National Offshore Oil Corp (CNOOC) is planning to build a 1.2m cubic metre (cbm) crude tank farm at Yantai city in Shandong province, sources familiar with the project said on Thursday.

This tank farm will contain six 50,000cbm tanks and nine 100,000cbm ones, they said.

“The project has passed the environmental assessment and can [start] construction right away, but the detailed schedule is not clear yet,” said a source with Shandong Academy of Environmental Science, which conducted the environmental assessment.

The tank farm will be CNOOC’s largest one in Shandong, where the company has refineries and cooperates with some independent refiners. It can be used to store crude from Bohai Bay and enhance the company’s influence in Shandong’s refining market, industry sources said.

CNOOC sources could not be reached for comments.

By: Jason Zhu
+65 6780 4359

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