China begins filling its emergency oil reserve at Lanzhou, according to an executive with CNPC....

|By:, SA News Editor

China begins filling its emergency oil reserve at Lanzhou, according to an executive with CNPC. The country is working towards completing its 2nd phase of stockpiling by storing 168.6M barrels by early 2013. ZH notes the contrast with the U.S., now considering a release of reserves amidst election season.