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Qingdao Port and Petrobras inaugurate bonded spot crude oil depot

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Chinese eastern port of Qingdao and Brazilian oil and gas firm Petrobras have inaugurated a bonded spot crude oil depot at Dongjiakou port area of Qingdao Port.

Petrobras has signed an agreement with Qingdao port to use of four 100,000 cu m crude oil storage tanks.

The depot, first of its kind ever built in a Chinese port, has just received 130,000 tonnes of crude oil from the Brazilian oil tanker. Chinese refineries are now able to buy bonded crude oil base on their needs via Qingdao port.

Anelise Lara, senior vice president of Petrobras said that Brazilian crude oil now has a larger export platform in Qingdao, which would hopefully bring substantial earnings growth in the future. Petrobras expects to establish a long-term co-operative relationship with Qingdao port.

Currently, Qingdao port, the leading crude oil import port in China, owns seven oil terminals and thirteen berths, which can accommodate up to 450,000 dwt oil tankers.

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