AFX Europe (Focus): Shell to increase gas stations in China – report: “Anglo-Dutch oil giant Royal Dutch/Shell aims to double the number of its gas stations on the Chinese mainland, excluding Jiangsu Province, each year in the next few years to capitalize on China's booming oil fuel retail market, the China Daily reported.” (ShellNews.net) 10 Jan 05
BEIJING (AFX) - Anglo-Dutch oil giant Royal Dutch/Shell aims to double the number of its gas stations on the Chinese mainland, excluding Jiangsu Province, each year in the next few years to capitalize on China's booming oil fuel retail market, the China Daily reported.
Shell currently has 45 gas stations on the mainland, and is currently in talks with local companies regarding the further expansion of its retail business, the newspaper cited Terry Blaney, general manager for the company's retail business in China and the Philippines, as saying.
Shell's non-fuel business at gas stations, including convenience stores and car care services will also expand due to increasing competition, Blaney added.
Last December, Beijing opened up the retail oil products distribution sector in accordance with its commitment to the World Trade Organization, allowing international companies to set up joint venture gas stations in China.
Last year, in eastern China's Jiangsu Province, Shell launched a 187 mln usd joint venture with China Petroleum and Chemical Corp, China's largest oil refiner, for running 500 gas stations, the newspaper said.
Citing Nick Wood, Shell's Beijing-based spokesman, the newspaper said that Shell invested about 1 bln usd in China last year, bringing its total so far in the country to 3 bln usd.
(1 usd = 8.3 yuan)
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