Sinopec builds largest storage hub in Hunan province

China Petroleum & Chemical Corp. (Sinopec) is constructing the biggest storage hub in its Changling refinery in Hunan province in China. The storage facility will be linked to the refinery through a pipeline, and would have capacity to store 500,000 cubic meters or 3.15 million barrels of refined oil products. The state-owned Assets Supervision and Administration Commission said that the facility would be finished by February 2013. At present, Sinopec’s Changling refinery has the capacity to process 8 million metric tons of crude oil a year, or around 160,000 barrels a day. (July 12, 2012)