Besides the construction of a ten million ton refinery in Huizhou, Guangdong Province, the company also exerts itself to acquire more gas stations around China for many years, in a bid to gain bigger share in downstream oil sales market.
CNOOC has signed the purchase agreement with Zhenjiang Changjiang Petroleum Co., Ltd., which is located in Jiangsu Province, to take over more than ten gas stations on the water and oil depots under the latter's wings. As for the latter company, the acquisition will open the bottleneck of oil supply sources, which curbed the company's development.
In addition, CNOOC has acquired twenty gas stations of Shanghai Xingcheng Petroleum Co., and six gas stations in Shaoxing, Zhejiang Province, by far. Meanwhile, the acquisitions of more than 23 gas stations in Shanghai and Nanjing, capital city of Jiangsu Province, and Shaoxing are under negotiations.
From www.cnstock.com, Page 1, Tuesday, May 06, 2008 info@SinoCast.Com
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