Kuwait to open retail outlets in China

Kuwait Petroleum Corp. (KPC) said it plans to open a network of filling stations in China as part of a US$7 billion refinery and petrochemical joint venture (JV). Kuwait’s Emir, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and a team of ministers and officials visited Beijing in May to discuss the venture. Its Chinese partner wants the venture to be relocated from Nansha, 50 kilometers from downtown Guangzhou to Zhanjiang in the western part of Guangdong province. KPC’s partners in the JV, which is expected to be operational by 2013, are China Petroleum & Chemical Corp. (Sinopec), Dow Chemical Co. and Royal Dutch Shell and expected to be operational by 2013. (May 8/13, 2009)