On June 28th, 2018, National Development and Reform Commission (NDRC) and the Ministry of Commerce released Special Administrative Measures on Access to Foreign Investment (Negative List) (2018 Version), which will become effective on July 28th, 2018.
Among them, the restriction that the construction and operation by the same foreign investor of the gas chain stations with branches of more than 30 and sales of different types and brands of refined oil from multiple suppliers must be controlled by the Chinese side was lifted. Not long ago, BP announced the construction of 1,000 gas stations in China within five years.
The major business decisions of BP in China have been thoroughly influenced by Lord John Brown directly or indirectly, which also show the inherent advantages of BP to set game rules and do trading business.
▪Roughly one thousand gas stations in two wealthy provinces Zhejiang and Guangdong:
In support of PetroChina and Sinopec going public, as an IPO investor, BP did what the financial institutions should have done.
▪Guangdong Dapeng LNG regasification receiving terminal, which is the first and largest one in China:
BP is the investor and joint operator of the regasification receiving terminal, which is not a traditional business scope of oil majors. The project started the trend of “Chinese cargoes shipped by China-crewed and China-built vessels” movement.
▪Shenzhen Dapeng, an major trucked LNG player in China:
International oil majors rarely take part in the LNG retail business.
▪South China Sea Yacheng 13-1 gas field:
It was once the largest offshore gas field, supplying natural gas to Hong Kong.
▪The foreign party of the jet fuel joint ventures in China:
It supplies jet fuel and/or technical services to the two largest airports in China, Shenzhen and Guangzhou airports, as well as 20 other airports, and invested in the once financially troubled China Aviation Oil (Singapore).
▪Shanghai SECCO Petrochemical Company:
It is a role model of joint venture between China and other countries, with the total investments exceeding 3 billion U.S. dollars.
Every drop of base oil and additive are outsourced from the market, but its formula and brand are top rated as showing in the movie Fast and Furious 8.
▪Upstream shale gas projects in Sichuan province:
When other foreign investors withdrew from upstream projects, BP took over two shale gas blocks from three other foreign oil companies and created a new cooperation model, which is the first time that a Chinese company is the operator in a large scale foreign invested oil and gas projects.
▪Cooperation with Dongming Petrochemical:
BP signed the first long-term contract for crude oil import with Chinese private company, and planned to build gas station joint ventures with Dongming Petrochmical.
▪The operation of Zhuhai PTA plant and Nanjing and Chongqing acetic acid plant……
Every single project is more or less paying tribute to the former CEO, the special John Brown!
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