Chinas state-owned energy company will lease storage from operator NuStar Energys Los Angeles, US, facilities.
PetroChina fixed fuel oil storage capacity for 400,000 barrels in LA, less than a week after confirming a lease for over 5 million barrels of dirty storage space at NuStar's Statia terminal in the Netherlands Antilles in the Caribbean.
PetroChina plans to significantly expand its storage of bunker fuel products at both facilities.
The Caribbean deal will increase PetroChina's dirty storage capacity at Statia to 6 million barrels by early 2010. Statia is the biggest fuel oil storage terminal in the Caribbean.
Apart from Statia, PetroChina has a total of 2.5 million barrels of dirty and clean storage space at the BORCO oil terminal in the Bahamas.