New sys­tem planned for oil re­serves

China Daily (Canada) - - BUSINESS -

Changes are be­ing planned to the way China han­dles its oil re­serves. Pri­vate com­pa­nies will be al­lowed to build and op­er­ate their own strate­gic stock­piles, while also be­ing re­quired to main­tain na­tional in­ven­to­ries, which could be ex­ported. Draft rules is­sued by the Na­tional En­ergy Ad­min­is­tra­tion said the na­tional re­serves will be un­der the con­trol of the State Coun­cil.

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