China National Petroleum Corp (CNPC), the country's largest oil
producer, plans to open 60 gasoline and natural gas filling
stations in Chongqing to boost business in the region.
The deal is an important part of the company's agreement with
Chongqing municipality, CNPC said on its website yesterday. The two
parties signed the agreement last December.
CNPC did not say when it would start construction of the
stations or provide the total investment figure.
The company did not make further comment on the deal
yesterday.
CNPC has around 18,000 filling stations in China. Every day, the
company opens four to five new stations, it said on its
website.
State oil companies are expanding in Chongqing to tap energy
demand in the region. The country's largest refiner Sinopec also
signed framework agreements with the municipal government to
develop oil and gas projects.
A strategic oil reserve will be developed in Chongqing's Wanzhou
district to help secure the country's oil supply. The reserve is
part of the second phase of the nation's strategic oil reserve
plan.
The Sichuan Reserves Administration Bureau and the Wanzhou
district's local government signed an agreement last November to
set up the reserve.
The central government will not focus solely on the eastern part
of the country to build strategic oil reserves, said oil expert Han
Xuegong.
According to the National Development and Reform Commission, the
second phase of the strategic oil reserve plan will have a total
capacity of 28 million tons.
(China Daily January 9, 2008)
