China’s INE adds more delivery space at PetroChina’s tank farm
China’s International Energy Exchange (INE) said on Friday it had approved another 400,000 cubic metres, or about 2.4 million barrels, of warehouse space for crude oil delivery, taking its total storage to nearly 57 million barrels.
The expanded tankage comes from a tank farm owned by PetroChina International in the port of Dalian, in northeast Liaoning province.
The INE has since early April more than doubled its storage for contract deliveries as strong demand from investors attracted a flurry of physical deliveries.
Source: Reuters (Reporting by Chen Aizhu; Editing by Edmund Blair)