East China oil-product storage project enters trial operations

The Yangshan oil-product storage project in eastern China entered trial operations of its second-phase development, bringing its total fuel storage capacity to 1.01 million cubic meters (cu m), according to a report on the Shanghai municipal government’s official website. The second phase of the project, developed by Yangshan Shengang International Petroleum Logistics Co., has 590,000 cu m of storage capacity for oil products including gasoline, diesel fuel, fuel oil and jet fuel, it said. Yangshan Shengang International has obtained bonded licenses for its storage tanks and secured approval from the Shanghai Futures Exchange as a warehouse for fuel oil delivery, according to the report. (July 13, 2010)