BEIJING: China, the world’s biggest importer of crude oil, plans to swell its stockpile, build significant reserve projects and bolster storage for natural gas and coal, a five-year plan released on Thursday showed.
Heavy reliance on energy imports is a security vulnerability for China, which has been building strategic oil inventories to about 900 million barrels, or 78 days’ worth, according to estimates by Vortexa and traders.
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