China: Sinopec Still Dominant in Oil Products Market
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Friday, 06 January 2012 |
New data released by China Petrochemical Corporation (Sinopec), the country's second largest oil company, shows a continued strong position in the domestic oil products market. The state-owned company sold 151 million tonnes of gasoline, diesel and kerosene in 2011, accounting for close to 60% of the country’s aggregate sales for the year.
National Development and Reform Commission (NDRC) statistics revealed that total oil product sales over the first 11 months of 2011 rose to 222.15 million tonnes. Unlike peer China National Petroleum Corporation (CNPC), the company has a strong downstream arm relative to upstream operations. Sinopec operated over 30,000 fuel service stations nationwide at the end of 2011, along with 8,600 kilometers of pipelines. Fuel service station sales of oil products reached over 100 million tonnes for the first time last year.
PetrolWorld 06012012
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