9. PRC Energy Supply
People's Daily ("CHINA TO FILL ITS STRATEGIC GAS RESERVE ", 2005-06-30) reported that the PRC will start filling its strategic petroleum reserve from the fourth quarter this year, said Zhang Guobao, deputy director of the PRC's National Development and Reform Commission (NDRC) in New Orleans, the US on June 28, 2005, according to report by Xinhuanet. Zhang also refuted the view that the PRC's increasing oil consumption is to blame for the international oil prices hike. The US Department of Energy said, the country's strategic petroleum reserve will reach its goal of 700 million barrels this August.
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