Total and Sinochem form retail-fuel JV

March 29, 2005
Total SA said Chinese authorities approved its formation of a retail-fuel joint venture with China National Chemical Import & Export Co. (Sinochem) called Total Sinochem Fuels Co.

By OGJ editors

HOUSTON, Mar. 29 -- Total SA said Chinese authorities approved its formation of a retail-fuel joint venture with China National Chemical Import & Export Co. (Sinochem) called Total Sinochem Fuels Co.

Total will own 49% of the venture, and Sinochem will own 51%. The first in a planned network of 200 service stations is expected to open in Beijing in the autumn.