Norway offers to build strategic oil storage depots for China

Oct 11, 2004 02:00 AM

Norway has offered to supply China with technology to build strategic oil depots. China has no emergency depots for oil at the moment.
China is the world's second largest importer and consumer of oil but has no emergency depots for oil at the moment. The nation would therefore be vulnerable to a possible shortage of oil on the world market.

Norwegian Minister of Trade and Industry, Boerge Brende, has offered Norwegian cooperation with China on such projects.
An agreement with China could mean contracts for Norwegian firms worth billions of kroner. Norway has earlier supplied similar technology to Singapore and South Korea, in competition with the US and other countries.

Source: PIN
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