China's CNPC, Sinopec vie for market share

Competition for China's retail market share is heating up between the country's two biggest petroleum companies.China National Petroleum Corp. has intensified its efforts to expand and consolidate its position for oil products sales in eastern and southern China-traditional strongholds for China Petrochemical Corp. (Sinopec).Among the string of expansion measures are the equity acquisitions and consolidation of local terminals and storage facilities and setting up a petroleum exchange in the region.CNPC now owns and operates six oil products terminals in the two regions, with a combined capacity of 600,000 cu m, and has a retail sales network capable of handling about 20 million m...

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