CNOOC plans gas station chain
16 July 2004
China National Offshore Oil Corp (CNOOC) plans to open a gas station chain in China's coastal provinces. The oil company will compete with existing chains run by PetroChina and Sinopec, which analysts said would be challenging. Beijing is pushing the three main national oil companies to set up operations in preparation for the full-scale entry of foreign companies into the market. CNOOC officials said that the company is considering opening the chain with an overseas joint venture partner. The first gas stations are planned for Guangdong province, where CNOOC is building a refinery.