PetroChina to Add 1,500 More Gas Stations

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Last updated at: (Beijing Time) Tuesday, July 30, 2002

PetroChina to Add 1,500 More Gas Stations

China's leading oil company, PetroChina, will invest 361 million to 482 million US dollars buy or build another 1,500 gas stations to its retail network this year, a company executive said Monday.

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China's leading oil company, PetroChina, will invest 361 million to 482 million US dollars buy or build another 1,500 gas stations to its retail network this year, a company executive said Monday.

Lin Qingshan, PetroChina's vice president and Refining and Marketing chief, said in an exclusive interview with Xinhua that 30 percent to 40 percent of the plan has been completed so far this year.

By the end of last year, PetroChina's gas stations (wholly owned, controlled or franchised) numbered 12,102. Each station now averages daily sales of 4.8 tons, up 64 percent from 1998 when the company was established.

In the on-going nationwide rectification of gas stations, PetroChina is sorting out its own portfolio according to state requirements. Those that fail to meet the requirements will be closed, Lin said.

To improve the management of its service stations, PetroChina has set up its own set of management standards modeled on BP, its retail partner in Guangdong Province, south China.

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