Green light to sell in China
Posted: 18 June 2007
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China has issued oil product wholesale licenses to three companies, including two of Sinopec’s joint ventures, the Ministry of Commerce has announced on its website.
 The Sinopec joint ventures were set up with ExxonMobil and Saudi Aramco in a $5 billion investment deal in refining and marketing in the southern Chinese province of Fujian earlier this year.
The joint venture companies are Fujian Refining and Petrochemical, which plans to triple the capacity of a refinery at Quanzhou to 240,000 barrels a day by early 2009 and Sinopec SenMei ( Fujian ) Petroleum, which will manage and operate around 750 filling stations and oil depots.
The third oil product wholesale license went to an oil storage company located in Langfang, a town in North China 's Hebei province. |
