The National Development and Reform Commission (NDRC) announced the official establishment of the National Petroleum Reserve Center on December 18. This new entity operates independently from the Energy Development Bureau under the NDRC and is directly affiliated with the commission, marking a significant step in China’s energy governance structure.
According to recent reports, the National Petroleum Reserve Center serves as the operational arm of China’s oil reserve management system. Its primary objective is to safeguard national economic security by ensuring stable oil supply. The center is tasked with managing the construction and operation of national oil reserve bases, overseeing strategic petroleum reserves, and handling the collection, storage, rotation, and utilization of these reserves. It also monitors fluctuations in both domestic and international oil markets to support informed decision-making.
The NDRC emphasized that the creation of this center has enhanced the efficiency and professionalism of China’s oil reserve management. By clarifying the organizational structure and responsibilities, the center paves the way for a more specialized and standardized approach to managing the country’s energy resources. This development is expected to strengthen the foundation of China’s unique oil reserve system, accelerate the expansion of strategic reserves, and ensure more effective and transparent operations in the long term.
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