China fuel wholesalers to keep over 15 days' stocks

China will from May 1 require wholesalers of refined oil products to maintain stocks equivalent to at least 15 days of sales, in an effort to put an end to frequent supply interruptions.

Fuel wholesalers also will be required to have an annual turnover of at least 100,000 tonnes, while storage firms should reserve at least 60 percent of their capacity for customers rather than for their own use, the Ministry of Commerce said in releases on its Web site.

The rules are a more detailed update to regulations governing the refined oil products market, which were published in 2006.