PetroChina plans to spend CNY1bn ($154.4m) to build 40 new gas stations in Tongren, Guizhou province over the next five years and upgrade 20 existing stations in the area.
In addition, PetroChina plans to build 48 new gas stations and upgrade a number of refined oil storage warehouses and pipelines in Zunyi, Guizhou province and supplies presently one-third of the refined oil to the Guizhou province.
Sinopec currently plans to build more than 500 gas stations in Xinjiang over the next five years and currently has a 70% share of the domestic oil retailing market.
In addition, Sinopec had obtained approval for 270 new gas stations in Hubei province last year.
Sinopec plans to increase its crude oil processing volume by 19% and refined oil production by 14% over the next five years according to the company’s 12th five-year plan, reports CapitalVue.
