China will put into operation its first national oil reserve facilities under construction in Zhenhai of eastern Zhejiang Province at the end of this year, while speeding up construction of three others, top economic official Ma Kai said Monday.
"The Zhenhai facilities are expected to be put to use by the end of this year and the three others would be operating in 2007 or 2008," Ma, minister in charge of the National Development and Reform Commission, said at a press conference.
These projects are aimed at avoiding interruption of oil supply and adjusting oil prices at time of scarcity, he said.
(Xinhua News Agency March 6, 2006)
