British BP and Sinopec Expand Zhejiang's Refined Oil Retail Market
March 13 13:28:54, 2021
The first joint-venture gas station of the multinational oil giant British BP and Sinopec in Zhejiang will be officially unveiled in Ningbo on January 1, 2005. By then, gas stations will be affixed with Sinopec and BP logos and brands at the same time, and will follow the global standards of BP to implement unified quality and service management. General Manager Wang Lifeao of Sinopec Pfeiffer (Zhejiang) Petroleum Co., Ltd. recently made the above statement when interviewed by Xinhua News Agency reporters. Sinopec Bibliz (Zhejiang) Petroleum Co., Ltd., established by Sinopec Corp. (Sinopec) and British Petroleum (BP), was established in Hangzhou recently. The total investment of the joint venture company project is 2.188 billion yuan and the operating period is 30 years, of which Sinopec and BP Group hold 60% and 40%, respectively. Within three years after its establishment, the joint venture company will use the joint brand of Sinopec and BP Group to acquire, build, operate and manage 500 gas stations in Zhejiang Province. 'Our plan is to first build 100 gas stations in Ningbo in 2005 and complete the basic layout in Hangzhou by the end of 2006. In June and July of the third year, the joint venture company's gas station in Shaoxing will also make its debut. 'Bernard Wong, general manager of Sinopec Pfeiffer (Zhejiang) Petroleum Co., Ltd. said. The main business scope of the joint venture gas station is retail gasoline, diesel, kerosene, lubricants and gas station convenience store goods, and other gas station ancillary facilities services. In the aspect of refined oil supply, Sinopec Corp. is the exclusive supplier of the joint venture company. As a world-class oil retail company, we will train employees in a unified manner and create a 'quick, friendly, safe and convenient' service environment. According to Wang Mingcheng, gas stations built and managed in accordance with international standards will provide reassuring oil quality and reasonable oil prices. At the same time, the gas station will also adopt the unified business model of the BP global gas station, vigorously build and improve the construction of non-oil products sales businesses such as convenience stores and car wash shops, satisfy the needs of motorists to the greatest extent and create everything for them. Possible facilities. According to reports, these 500 gas stations are mainly distributed in Ningbo, Hangzhou and Shaoxing. Because Sinopec (Zhejiang) Petroleum Corporation has more than 1,800 gas stations in Zhejiang, its market share is about 70%. Therefore, the vast majority of gas stations will use the entire Sinopec existing gas station network transfer method, but the joint venture company will also purchase or build a small part of their own according to the needs of the distribution point. 'From the strong growth rate of Zhejiang's GDP, it can be seen that in the next few years, the number of consumers of motorists and refined oil products will show rapid growth. 'Wang Mingru admitted that the large-scale deployment of BP in Zhejiang is based on the above expectations. According to the China BP Group Chinese company spokesman Mr. Zhao Zhaoheng (Michael Zhao), according to China's WTO commitments, starting from December 11th, the Chinese refined oil retail market will be open to the outside world, and foreign companies can set up gas stations without restrictions in the country. . In order to establish a market network as soon as possible, BP decided to build a gas station in cooperation with PetroChina, Sinopec, the two major state-owned oil giants. The coastal developed areas such as Zhejiang and Guangdong will become the first two provinces to start. He said that by the end of September this year, the dual-label gas stations jointly invested by PetroChina and BP had 368 in Guangdong, accounting for about 6.3% of the total number of gas stations in the province. BP plans to expand this number to 500 in Guangdong within one or two years. After Guangdong, BP immediately launched a joint venture with Sinopec in Zhejiang. In this way, BP, through cooperation with China's two largest state-owned oil giants, will reach 1,000 gas stations in China's coastal areas in the shortest possible time.