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China's Qingdao Yijia International Trade Group is set to launch a new fuel oil storage terminal by the end of August, according to industry sources.

The state-owned firm - the largest fuel oil importer in the eastern province of Shandong - will operate the new 480,000 cubic metre fuel oil terminal and a 200,000-deadweight tonne fuel oil berth will also come on stream at the same time.

Once launched the new facility will enable Qingdao Yijia to more than triple its total fuel oil storage capacity to 670,000 cubic metres from 190,000 cubic metres.

Qingdao Yijia is China's fourth largest fuel oil importer. In 2008, the company imported approximately 1.8 million tonnes of fuel oil.

Further north of the country, Chinese bunker supplier Brightoil Petroleum announced earlier this month that it is planning to build an oil storage facility in Changxing Island, Dalian.

When completed the new facility is expected to have a capacity of around 8 million cubic meters and will be used to store fuel oil, diesel fuel, aviation fuel, chemical products and crude oil.