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BP to Enlarge Investment in China
BP Managing Director Dr. Chris Gibson-Smith said November 14 at a news conference that China has become the third largest market in the world following Europe and America, and BP will enlarge its investment in China in the coming years.
BP is one of the world largest petroleum and chemical groups. On July 24, the former British Petroleum, Amoco and Arco of the United States, Castrol of Britain formed themselves into a new BP firm with a market value of over US$200 billion.
Smith said that BP has always been attaching great importance to its cooperation with China and it has invested a total of US$3.5 billion in China over the past 20-odd years, thus making it a foreign company with the most investment made in China¡¯s energy industry.
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