IEA urges China to be more transparent on oil reserves - report
5 November 2006Xinhua News Agency
BEIJING (XFN-ASIA) - China should be more forthcoming on whether there is a specific timetable for filling its strategic petroleum reserves, the Wall Street Journal reported, citing an International Energy Agency (IEA) official.
'Having errant pieces of information leaking out of closed conferences is not the way to do it. Transparency is best,' the newspaper cited Jonathan Sinton, who manages the IEA's operations in China, as saying.
Paris-based IEA is concerned about how China will manage its oil reserves, the report said.
China's strategic reserves are currently thought to be relatively small, but its reluctance to publicly disclose when it will fill the reserves has added to the market's swings, the report added.