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Qianwan Port Becomes China's Major Oil Importing Base
The port of Qianwan in east China's Shandong province has become one of the country's major crude oil importing bases, customs figures indicated.
From January to September, crude oil imports by the port accounted for one-fifth of the country's total, according to latest statistics released by the Qingdao customs.
Some 10.38 million tons of crude oil worth 2.06 billion US dollars were imported by the port in the first three quarters, up 131 percent and 295 percent, respectively, over the same period last year.
The port, located in the city of Qingdao, doesn't freeze or fill up with silt at any point in the year. It has been a major state-listed project under construction during the past decade. Gigantic 300,000-dwt oil containers are able to pass through the port with ease.
This year, China has had a much greater demand for crude oil and downstream products, and the government has adopted policies to stimulate imports.
Meanwhile, sound infrastructure and high-efficiency services have attracted a number of Chinese enterprises to use this port for crude oil importation.
The port has mainly imported crude oil from Oman, Iraq and Saudi Arabia and other Middle East countries, as well as Angola.
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