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08 Aug 2026

Does China Store Oil Underground? Salt Caverns, Tank Farms and Why It Matters

China stores crude oil both ways: in large aboveground tank farms and in sealed underground caverns, and the mix is deliberate. Underground storage is cheaper to protect and much harder for outside observers to measure, which is one reason the true size of China's reserve is an estimate rather than a fact. This answer explains where and how China stores its oil, why it uses underground sites, and what the storage mix tells energy professionals trying to read Chinese demand.

08 Aug 2026

ConocoPhillips in 2026: The Disciplined Pure-Play That Bought Scale and Cut Costs

ConocoPhillips is now the largest independent exploration and production company in the world, and it got there by doing the opposite of a growth-at-any-cost roll-up. It bought Marathon Oil for 22.5 billion dollars in stock, doubled the promised synergies, and spent 2026 taking another billion dollars of cost and capital out of the business while handing 45 percent of operating cash flow back to shareholders. This dossier examines what ConocoPhillips is doing, the logic of the pure-play model, and what a returns-first supermajor-scale independent means for the suppliers, competitors and buyers around it.

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