Seen from the skies, China’s Dongjiakou oil storage looks like a tray of god-sized cake tins. As fuel fills up the tanks, their floating roofs rise, turning the containers into panettone-shaped domes. And lately the bakers have been busy. Some 10m barrels of crude have been added since early December, taking the total to 24m. The state-owned facility—the largest of its kind on the Chinese coast—is barely two years old. It is already 56% full.
in Finance
