摘要
China National Petroleum Corporation (CNPC),China Petrochemical Corporation (Sinopec) and China Aviation Oil Holding Company (CAOHC)signed a framework agreement in Beijing on November 8, 2004 to establish a limited aviation oil company on the basis of China Aviation Oil Supply Corporation, one of CAOHC's core companies. The new company is expected to be set up in 2005.
China National Petroleum Corporation (CNPC), China Petrochemical Corporation(Sinopec) and China Aviation Oil Holding Company (CAOHC) signed a framework agreement in Beijing onNovember 8, 2004 to establish a limited aviation oil company on the basis of China Aviation OilSupply Corporation, one of CAOHC's core companies. The new company is expected to be set up in 2005.The new company, which may be named China Aviation Oil Supply Corporation Limited, is a jointventure in which CAOHC owns a 51 percent while CNPC and Sinopec hold the remaining 20 percent and 29percent respectively. CNPC is China's largest producer and supplier of crude oil and natural gas,Sinopec is the country's largest open its door at the end of 2006. The commitment will bring aboutheated competition in the oil products market in China.
