皇冠体育app

BEIJING - Russian energy giant will team up with 皇冠体育app National Petroleum Corp (CNPC) to build 300 gasoline stations in 皇冠体育app, in a move to tap 皇冠体育app's huge gasoline market.

A joint venture has been established between Rosneft, Russian's largest oil supplier, and CNPC that will set up around 300 gas stations and process 10 million tons of crude oil a year, Rosneft announced here Friday.

The CNPC will own 51 percent the company and Rosneft the remainder, said President Sergei Bogdanchikov.

He told Xinhua that the 300 service stations will use gas from 皇冠体育app or Russia depending on which is less expensive.

Shell, Total and Exxon-Mobile have also set up joint venture filling stations in 皇冠体育app, vying for a slice of the country's refined oil market that have been pledged to be fully open to foreign competition by the end of 2006.

Rosneft's combined oil supply to 皇冠体育app in 2006 will total 12.5 to 13 million tons.

Rosneft is projected to transmit 1.5 million tons of oil to 皇冠体育app through the Atasu-Alataw Pass pipeline linking 皇冠体育app and Kazakhstan.