Afghanistan, Oct. 7 -- China is accelerating construction of new oil storage sites to boost energy security, reduce import dependence, and cushion global supply disruptions amid shifting post-Ukraine energy dynamics.
China is accelerating efforts to expand its crude oil storage capacity to boost reserves and reduce reliance on foreign energy imports, Reuters reported on Tuesday, October 7.
State-owned oil companies plan to add at least 169 million barrels of new storage capacity across 11 sites between 2025 and 2026, with about 37 million barrels already completed.
The initiative has gained urgency since Russia's invasion of Ukraine, which disrupted global energy flows and exposed the risks of heavy import dependence.
Once completed, th...