China's oil storage capacity rises 10%

In 2006, China’s oil storage facilities rose 10% to 333, according to the latest industry statistics. Holding 131 of them, CNPC and Sinopec, the parent firms of PetroChina and Sinopec Corp. respectively, make up 39.3% of the total. Other state-owned storage companies account for 17.1% of the total. Private companies make up 41.1% of the national total, while foreign companies make up 2.4%. (May 8, 2007)