Sinopec has begun operations at Phase I of the Luoyang Crude Oil Commercial Reserve in Henan Province in eastern China. Luoyang Petrochemical will now be responsible for the operation and management of the facility. 

The facility has a total capacity of 800,000 m3 and will mainly store crude oil with a low freezing point. Sinopec said it has increased the company’s ability to guarantee supply in the regional markets and maintain energy security.

The second phase, which will also have a capacity of 800,000 m3, is scheduled for commissioning in 2021.

Tank TK-01 officially began receiving oil at 21:18 local time on 30 June. Sinopec said the facility entered service on schedule and will improve the supply of crude oil to petrochemical companies in China’s Central Plains region. 

For more information visit www.sinopecgroup.com

3rd July 2020