中国企业为供国家使用维持石油储备（英文版）

China's National Energy Administration's ("NEA") Regulation of National Oil Reserves (Draft) (国家石油储备条例 (征求意见稿)) was issued on May 31, 2016. Ten years in the making, this proposed regulation signals the first time that the Chinese government may require enterprises to maintain a 10 percent reserve of crude oil and refined crude products for use in national emergencies. The public comment period for the draft regulation expired in June 2016.

Background

China historically has required only government agencies, such as the NEA, to maintain oil reserves (primarily crude) for national emergencies. These national oil reserves are managed by designated national oil companies, such as CNPC, Sinopec, CNOOC, and Sinochem, but funded by the central government.