According to Reuters news agency reports from Beijing, China September 24, local media reported that the second phase of the Strategic Petroleum Reserve as a part of China has recently begun to far away from the capital of the western region of Xinjiang Dushanzi the construction of 5.4 million cubic meters of oil cans. China attended the groundbreaking ceremony, local media quoted government officials as saying that the project will cost 2.65 billion (0.39 billion U.S. dollars) and plans to be completed by July 2011.
Last year, China completed by the end of the first phase of the strategic oil reserves, the Chinese government had said that China plans to relatively low prices when the oil reserves.
Sep. 27, 2009
