China is planning changes to the way it handles oil reserves by allowing private companies to build and operate some of its strategic stockpiles, while also requiring companies to maintain compulsory inventories, potentially boosting its future imports. Beyond allowing private companies to build and operate some strategic petroleum reserves (SPR), draft rules issued by the National Energy Administration (NEA) on Tuesday will also oblige companies to keep compulsory oil reserves. These stocks must be kept separately from commercial reserves, and the draft states that such compulsory reserves could only be used at the direction of the state council or cabinet. The government determines the size of such mandatory reserves based on oil consumption, the rules published on the NEA website said. Although no […]