CNOOC builds oil sales network in Bohai Rim

CNOOC Ltd., China’s largest offshore oil and gas producer, is building a product oil sales network in the Bohai Rim region. The company has nine filling stations in operation in Beijing, with the majority located in the suburbs like Fangshan District, Huairou District and Changping District, said a CNOOC executive responsible for oil sales. As early as 2008, CNOOC acquired joint ownership of former Union Petroleum filling station on Youan Men Street, marking it the first CNOOC filling station in the Bohai Rim. In 2009, CNOOC bought controlling stakes in a Beijing-based petroleum and chemical company and a Tangshan-based petroleum sales company, breaking PetroChina’s and Sinopec’s monopoly in the local oil product wholesale sector. It is CNOOC’s strategy to further improve and extend its oil product sales networks in the Yangtze River Delta and Pearl River Delta, as well as build such a network in the Bohai Rim. CNOOC’s Huizhou refinery produces the oil product sold at its filling stations, said the executive. (November 30, 2010)