July 23, 2020 / 8:05 AM / 13 days ago

FACTBOX-New crude storage facilities in China's oil hub Shandong

    BEIJING, July 23 (Reuters) - Refiners and port operators are
accelerating plans to build storage facilities in eastern
China's oil refining hub Shandong,  as the world's largest oil
importer scoops up low-priced cargoes following April's price
slump.
    The facilities, planned around Qingdao, Rizhao, Dongying and
Binzhou, can hold at least 13.66 million cubic metres of crude,
according to local media reports.
    Below is a list of the projects in Shandong, home to most of
China's independent refiners. The storage capacity is in million
cubic metres.

 Owner          Location      Capacity   Start-up time
 Sinopec        Dongjiakou,   1.6        March
                Qingdao                  
 PetroChina &   Dongjiakou,Q  0.6        54% complete 
 Qingdao port   ingdao                   
 Zhenhua Oil &  Dongjiakou,   0.8        H2 2020
 Qingdao port   Qingdao                  
 Qingdao port   Dongjiakou,   1.6        end-2020
                Qingdao                  
 Hongrun        Binzhou       2.5        H2 2020
 Dekun          Rizhao        2          H2 2020
 Rizhao port    Rizhao        1.6        H2 2020
 Lanqiao        Rizhao        1.8        under
                                         construction, no
                                         timeline
 Wanda Baogang  Dongying      1.16       April
 International                           
 Source: local media reports
    

 (Reporting by Muyu Xu and Tom Daly; editing by Richard Pullin)
  
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