10.13Shell plans to open 100 gas stations in Shaanxi province

Shell plans to open 100 gas stations in Shaanxi province 

 

http://autonews.gasgoo.com/auto-news/1012509/Shell-plans-to-open-100-gas-sta
tions-in-Shaanxi-province.html

 

Shanghai, October 13 (Gasgoo.com) Royal Dutch Shell Plc announced on Monday
plans to build 100 gas stations in Shaanxi province with its Chinese
partners, in a move to expand its oil retail network in the country, state
media China Daily reports.

 

Shell will develop the stations through Shaanxi Yanchang and Shell Petroleum
Co Ltd, a joint venture between Shell, Shaanxi Yanchang Petroleum (Group) Co
Ltd and Shaanxi Tianli Investment Co Ltd. 

 

Yanchang Petroleum Group has a 46% shareholding in the joint venture, which
was established last year. Shaanxi Tianli has 9% and Shell 45%. The company
has a registered capital of 330 million yuan. 

 

The joint venture also opened yesterday its 10th gas station in Xi'an,
capital of Shaanxi. 

 

Overseas oil companies were allowed to start selling refined oil products in
China from Jan 1, 2007. Shell now has over 500 gas stations, mainly in
Beijing, Tianjin, Chongqing, Chengdu, Guangdong and Jiangsu. 

 

China reformed the oil pricing system this January, moving it closer to the
international level. Analysts said that the new mechanism, which guarantees
an appropriate margin for refiners, might help foreign companies accelerate
their expansion into the Chinese market. 

 

For more information please visit http://autonews.gasgoo.com/index.html