China sets up oil reserve centre

18/12/2007 -- 5:35 PM

Beijing (VNA) – China announced on December 18 the setting up of a centre, which will work as an administrative body of national oil reserve system and take the responsibility of building and making use of the country’s strategic oil reserves. China’s national oil reserve centre will also keep an eye on the movement of demand and supply of both domestic and international oil markets. China’s National Development and Reform Commission said in a statement that the establishment of the centre is a way to offset oil supply risks and reduce the impact of fluctuating energy prices worldwide on the Chinese domestic market of refined oil.-Enditem
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