China: PetroChina, Xinjiang, and local firm team up for gas station, c-store venture
PetroChina Xinjiang Marketing Company Limited, Xinjiang Guanghui Clean Energy Technology Co., Ltd, and an Urumqi high-speed railway developer have agreed to jointly develop and operate gas stations, convenience stores, and car washes in Urumqui, the capital of Xinjiang province, reported Xinhua Finance.
The joint venture has been named Urumqi Zhonghuishengye Clean Energy Co., Ltd. Twenty five percent of which are controlled by the PetroChina subsidiary, 35% by the Guanghui Energy subsidiary, and 40% by the local railway developer. The venture will also put up natural gas refilling stations.
This is PetroChina and Guanghi’s latest partnership in natural gas business. In July 2015, Xinjiang Guanghui LNG Development Co., Ltd., another subsidiary of Guanghui Energy established ties with PetroChina Xinjiang Marketing Company and PetroChina Gansu Jiuquan Marketing Company to develop natural gas stations.
