Oil major sets sights on retail operations

China National Offshore Oil Corp, the nation’s third-largest oil explorer, plans to expand its small fuel retailing business, starting with Guangdong Province, the nation’s manufacturing hub.  “Guangdong will be our main focus to enter into the oil product retail business as we are building the first refinery there,” said company spokesman Liu Junshan.  China National Offshore, the parent of overseas listed CNOOC Ltd., is diversifying from oil production to refining by building its first oil-processing plant in Huizhou in Guangdong.  It is also moving into gas stations.  The Huizhou Refinery has been supplying naphtha to a chemicals joint venture being run by China National Offshore and Royal Dutch Shell for a year. (January 9, 2007)