INDUSTRY BRIEFS

05/10/1999
Marketing China Petrochemical Corp. (Sinopec) plans to build 300 gasoline stations in China this year for 2 billion yuan and to buy 400-500 stations owned by local concerns. The plan is part of Sinopec's larger strategy to increase its products market share by 10%. Last year, Sinopec sold 62.23 million metric tons of oil products-about 70% of China's total oil product consumption. Sinopec owns 8,000 of the 86,000 total gasoline stations in China; China National Petroleum Corp. owns 4,000. Conoco Inc. and Malaysian partner Sime Darby Bhd. began construction on the first of a chain of new retail motor fuel outlets and convenience stores in the Kuala Lumpur ar...
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