Asias largest oil refiner China Petrochemical (Sinopec) has begun construction on an oil stockpile base, one of eight planned.
The base at Shandong will have a capacity of 3.2 million m3 of oil and should be complete by the end of November this year.
The facility at Rizhao city in the eastern Shandong province will be among eight storage fqacilities the company plans to build nationwide to combat volatile global crude oil prices.
