The project was approved by the Ministry of Commerce on March 6, 2007, and is now going through the industrial and commercial registration procedures. The registered name is China Petrochemical Mei Sen (Fujian) Petroleum Co., Ltd., with a registered capital of about 230 million US dollars and a total investment of 570 million US dollars.
After Sinopec Mei Sen (Fujian) Petroleum Co., Ltd. is officially put into production, it will mainly sell the refined oil produced by the Fujian oil refining and ethylene integration joint venture project, and will take over Sinopec's gas stations in Fujian, Jiangxi and Hunan provinces in an all-round way according to the tripartite joint venture agreement, and implement unified oil supply and management.
At the beginning of the joint venture, nine municipal branches were set up in Fujian Province to manage and operate about 750 gas stations and seven oil depots, and China Petrochemical was engaged in its original main refined oil business in Fujian, and China Petrochemical continued to perform its duty of ensuring the supply of refined oil in Fujian.
The company is mainly engaged in the wholesale, retail, storage, transit and transportation of refined oil, lubricating oil and other petroleum products; Operating convenience stores attached to gas stations, car washing, lubricating oil changing, catering and other supporting services; Provide technical services, operation and management services for gas stations and oil depots, and provide engineering and related equipment services; Engaged in gas station franchise activities.
In other words, there will be no Sinopec Fujian Petroleum Branch in the future.
They are all called petrochemicals, but the products are not necessarily the same. Business is different. Of course, there is competition for related projects, but it is more likely to buy oil from companies such as PetroChina for processing. Not every petrochemical company has an oil field.