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Energy

China's Dekun Energy opens 2 mln cubic metres crude oil storage warehouse

BEIJING, Sept 29 (Reuters) -

* China’s Dekun Energy, a subsidiary of Shandong Huaxin Industry and Trade Group, has opened a crude oil storage warehouse with total storage capacity of 2 million cubic metres in Chinese eastern port city of Rizhao.

* The new warehouse will add to Huaxin’s current storage capacity of 2.2 million cubic metres, making it China’s largest private oil storage firm, said the company in a statement.

* Dekun’s storage will serve as bonded warehouse and would help boost crude oil reserve capacity in the region.

* Chinese refiners and port operators have been accelerating plans to build storage facilities in China’s oil refining hub Shandong. (Reporting by Muyu Xu and Shivani Singh; Editing by Vinay Dwivedi)

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