GasBuddy News Article

votes

China's sites for commercial oil storage

Reuters -- BEIJING, Feb 9 (Reuters) - China National Petroleum Corp will start building a 6.2 million-barrel crude-oil tank farm next month in the northern port of Tianjin, which it aims to complete by end of this year, state media said.

Read the Full Article

Submitted Feb 09, 2010 By: Mudsprings

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics Post New Topic

Author	Topic: China's sites for commercial oil storage	Post a Reply Back to Topics

REPLIES (newest first)

First

Next Last

armstrmb Champion Author Houston Posts:5,143 Points:1,075,080 Joined:Jun 2007	Message Posted: Feb 10, 2010 10:54:58 AM Ignore armstrmb Report Abuse The company that I work for sells testing equipment that detects voids in metal using either magnetic flux, radiation, or ultrasonics. China has been a big customer over the past few years.
honda0105 Champion Author Tallahassee Posts:10,157 Points:592,775 Joined:Nov 2008	Message Posted: Feb 9, 2010 8:56:26 PM Ignore honda0105 Report Abuse not going to be the last of the storage tanks either. Anyone wanna bet? I fear though they may be in areas that are not safe for long term, or will be built in such manner that they don't last long.
Vette1967 Champion Author Albany Posts:1,242 Points:292,375 Joined:Jun 2009	Message Posted: Feb 9, 2010 8:16:42 PM Ignore Vette1967 Report Abuse They are gearing up for a big economic recovery. Just imagine how quickly that would come if China allowed their people a little more freedom.
honda0105 Champion Author Tallahassee Posts:10,157 Points:592,775 Joined:Nov 2008	Message Posted: Feb 9, 2010 8:02:08 PM Ignore honda0105 Report Abuse kidwhamo: easily: China is in high need for oil, building large storage means, more oil pulled from the market, prices go up. Simple, eh?
condé Champion Author Michigan Posts:1,286 Points:1,295,705 Joined:Oct 2004	Message Posted: Feb 9, 2010 3:22:28 PM Ignore condé Report Abuse good for them...
Blue48 Champion Author Illinois Posts:2,486 Points:632,865 Joined:Feb 2007	Message Posted: Feb 9, 2010 2:47:42 PM Ignore Blue48 Report Abuse I SEE RED PEOPLE!!
BigTruc Rookie Author Memphis Posts:21 Points:201,550 Joined:Jul 2004	Message Posted: Feb 9, 2010 11:43:13 AM Ignore BigTruc Report Abuse How large is the tank? I mean sq meters.
zimowski Champion Author San Jose Posts:1,610 Points:585,480 Joined:Nov 2007	Message Posted: Feb 9, 2010 10:34:48 AM Ignore zimowski Report Abuse Wow - 6.2 million barrels!
wwcj Champion Author Virginia Posts:1,515 Points:368,320 Joined:Jul 2008	Message Posted: Feb 9, 2010 10:18:25 AM Ignore wwcj Report Abuse Hope it is not near an earthquake zone!
AnObserver Champion Author New Jersey Posts:4,109 Points:1,386,945 Joined:Sep 2005	Message Posted: Feb 9, 2010 10:06:21 AM Ignore AnObserver Report Abuse They have to have some place to store all of the oil they are buying
CharlieC08 Champion Author Colorado Posts:3,629 Points:612,620 Joined:Oct 2008	Message Posted: Feb 9, 2010 10:01:40 AM Ignore CharlieC08 Report Abuse OH BOY when that thing leaks its really gonna make a mess.
doncNJ Champion Author New Jersey Posts:2,620 Points:534,120 Joined:Oct 2008	Message Posted: Feb 9, 2010 9:59:15 AM Ignore doncNJ Report Abuse That is a lot of storage. Is the tank ever going to be full?
206awd250 Champion Author Seattle Posts:1,242 Points:408,295 Joined:Nov 2008	Message Posted: Feb 9, 2010 9:58:18 AM Ignore 206awd250 Report Abuse sounds like a good idea. At least they will have oil stored and ready to use.
nissan_maxima09 Veteran Author Lancaster Posts:303 Points:65,020 Joined:Dec 2009	Message Posted: Feb 9, 2010 9:57:54 AM Ignore nissan_maxima09 Report Abuse hopefully safety in the production of this massive tank farm is an issue, or the chinese fire works companies will have competition
JXQW All-Star Author Kansas City Posts:793 Points:301,020 Joined:Jul 2008	Message Posted: Feb 9, 2010 9:54:57 AM Ignore JXQW Report Abuse how safe it is with a huge oil tank ....?
BlueVanGroup Champion Author Colorado Posts:2,077 Points:538,600 Joined:May 2008	Message Posted: Feb 9, 2010 9:54:55 AM Ignore BlueVanGroup Report Abuse China continues to look forward and secure its future energy needs. We seem to be looking backward, thinking, "Gee, we had such a nice, small 'carbon footprint' before that awful industrial revolution..."
FlyNFool Champion Author South Carolina Posts:3,381 Points:684,670 Joined:Aug 2008	Message Posted: Feb 9, 2010 9:54:42 AM Ignore FlyNFool Report Abuse The first of many storage facilities, here come the fireworks!
niceguytx Champion Author Houston Posts:8,771 Points:1,709,635 Joined:Sep 2005	Message Posted: Feb 9, 2010 9:53:23 AM Ignore niceguytx Report Abuse More competition for OPEC oil from the Chinese. Hold on to your wallet.
gilfarm Champion Author Alabama Posts:1,967 Points:975,610 Joined:Sep 2005	Message Posted: Feb 9, 2010 9:51:24 AM Ignore gilfarm Report Abuse How many tankers will it hold?
CISA Champion Author Orange County Posts:1,919 Points:644,340 Joined:Dec 2006	Message Posted: Feb 9, 2010 9:50:17 AM Ignore CISA Report Abuse more inventory always works
FBI2991 Champion Author Michigan Posts:1,534 Points:391,495 Joined:Nov 2008	Message Posted: Feb 9, 2010 9:47:12 AM Ignore FBI2991 Report Abuse Maybe they'll buy up all the crude, and hold us all hostage.
nedthenanite Champion Author Mississippi Posts:3,853 Points:744,710 Joined:May 2008	Message Posted: Feb 9, 2010 9:45:53 AM Ignore nedthenanite Report Abuse Beats holding it in offshore tankers, I guess.
rippinusoff Champion Author Lexington Posts:2,284 Points:475,840 Joined:May 2007	Message Posted: Feb 9, 2010 9:45:29 AM Ignore rippinusoff Report Abuse does that count as supply?
esorsd All-Star Author St. Louis Posts:907 Points:653,725 Joined:May 2005	Message Posted: Feb 9, 2010 9:45:06 AM Ignore esorsd Report Abuse how many tanks does it take to store 6,200,000 barrels of oil???
gasman50 Champion Author Portland Posts:3,729 Points:1,398,065 Joined:Nov 2005	Message Posted: Feb 9, 2010 9:43:14 AM Ignore gasman50 Report Abuse I'm not suprised
BartBuzz Champion Author Atlanta Posts:3,739 Points:770,785 Joined:Aug 2006	Message Posted: Feb 9, 2010 9:41:48 AM Ignore BartBuzz Report Abuse Take heed Washington. Drill in the homeland and become energy independent. Politicians always talk about reducing America's dependence on foreign oil but they never do anything but talk.
Cheepo Champion Author Tampa Posts:4,878 Points:2,140,565 Joined:Apr 2003	Message Posted: Feb 9, 2010 9:41:19 AM Ignore Cheepo Report Abuse And we should take care of US business, drill here and now!!!!
kyrunner Champion Author Lexington Posts:3,732 Points:686,335 Joined:Aug 2008	Message Posted: Feb 9, 2010 9:39:55 AM Ignore kyrunner Report Abuse Looks like the commies are just doing what they feel is best for China.
cutter1330 Champion Author Oklahoma Posts:2,936 Points:682,260 Joined:Jul 2005	Message Posted: Feb 9, 2010 9:39:10 AM Ignore cutter1330 Report Abuse China is just taking care of China's business.
moody4u Champion Author Cincinnati Posts:2,825 Points:544,400 Joined:Oct 2008	Message Posted: Feb 9, 2010 9:38:33 AM Ignore moody4u Report Abuse There doing what we should do.
cdanielwyke Champion Author Greensboro Posts:1,544 Points:407,365 Joined:Sep 2008	Message Posted: Feb 9, 2010 9:38:25 AM Ignore cdanielwyke Report Abuse I'm sure that wil look nice. Can I get some mountainside property overlooking that?
cnet1 Champion Author Arizona Posts:1,344 Points:391,640 Joined:Nov 2008	Message Posted: Feb 9, 2010 9:38:12 AM Ignore cnet1 Report Abuse will this bring oil prices down? i think not
BillHeatherL Champion Author Alberta Posts:2,634 Points:956,080 Joined:Apr 2007	Message Posted: Feb 9, 2010 9:38:04 AM Ignore BillHeatherL Report Abuse are they stocking up for something
nozzle46 Champion Author Little Rock Posts:2,287 Points:588,755 Joined:Jul 2006	Message Posted: Feb 9, 2010 9:36:18 AM Ignore nozzle46 Report Abuse Not a very big facility. Wonder why?
goalie1950 Champion Author Phoenix Posts:1,421 Points:286,670 Joined:Oct 2009	Message Posted: Feb 9, 2010 9:35:29 AM Ignore goalie1950 Report Abuse Conservation is the name of the game.
misterray Champion Author Oregon Posts:1,992 Points:497,240 Joined:Aug 2008	Message Posted: Feb 9, 2010 9:34:36 AM Ignore misterray Report Abuse The globe is going to heat up.
karmadrome Champion Author Wisconsin Posts:1,047 Points:344,240 Joined:Oct 2008	Message Posted: Feb 9, 2010 9:33:46 AM Ignore karmadrome Report Abuse It seems they are looking to the future and planning ahead. Imagine that.
ljmatney Champion Author Wichita Posts:4,024 Points:565,120 Joined:Jul 2008	Message Posted: Feb 9, 2010 9:30:35 AM Ignore ljmatney Report Abuse Continue to conserve. Keep your money in this country.
Bpers2001 All-Star Author Seattle Posts:735 Points:104,070 Joined:Nov 2009	Message Posted: Feb 9, 2010 9:29:20 AM Ignore Bpers2001 Report Abuse Well, good for China, I guess.
ModelWarships Champion Author Missouri Posts:1,764 Points:429,070 Joined:Jul 2008	Message Posted: Feb 9, 2010 9:28:27 AM Ignore ModelWarships Report Abuse gee they seem to be thinking ahead. Too bad we can't
lleddirj Champion Author Michigan Posts:2,456 Points:908,475 Joined:May 2005	Message Posted: Feb 9, 2010 9:27:51 AM Ignore lleddirj Report Abuse Hope they don't leak...
MikLamb Champion Author Texas Posts:2,868 Points:1,163,540 Joined:Jun 2006	Message Posted: Feb 9, 2010 9:27:40 AM Ignore MikLamb Report Abuse Got money? Use it!
humblepie Champion Author Toledo Posts:7,750 Points:1,357,615 Joined:Mar 2006	Message Posted: Feb 9, 2010 9:27:40 AM Ignore humblepie Report Abuse the u s has over 100 times that capacity already
BazooQC Champion Author Montreal Posts:4,575 Points:641,005 Joined:Oct 2008	Message Posted: Feb 9, 2010 9:27:00 AM Ignore BazooQC Report Abuse If they have their own oil storage, there will be less risk of solely relying on deliveries.
BlackHorse Champion Author Twin Cities Posts:2,454 Points:618,785 Joined:Dec 2002	Message Posted: Feb 9, 2010 9:26:34 AM Ignore BlackHorse Report Abuse considering the overall storage capacity and daily use in China, this is a very very small addition.
TFowler513 Champion Author Memphis Posts:2,216 Points:555,215 Joined:Mar 2008	Message Posted: Feb 9, 2010 9:25:09 AM Ignore TFowler513 Report Abuse The Chinese must know something the rest of the world doesn't. I wonder what it could be???
maske_2222 Champion Author Manitoba Posts:2,929 Points:608,535 Joined:Oct 2008	Message Posted: Feb 9, 2010 9:25:02 AM Ignore maske_2222 Report Abuse Money in their pocket.
swlincdrv Veteran Author Lincoln Posts:375 Points:219,115 Joined:Oct 2008	Message Posted: Feb 9, 2010 9:24:31 AM Ignore swlincdrv Report Abuse Whats up China.
MightyDude Champion Author Minnesota Posts:5,144 Points:1,634,745 Joined:Mar 2003	Message Posted: Feb 9, 2010 9:24:08 AM Ignore MightyDude Report Abuse China: busy, busy
fltdoc Champion Author Oklahoma Posts:3,285 Points:567,290 Joined:Oct 2008	Message Posted: Feb 9, 2010 9:23:07 AM Ignore fltdoc Report Abuse Storing oil there will probably increase price worldwide.