Business Services Industry
CHINA: BP ENTERING INTO LIQUEFIED PETROL GAS RETAILING IN SHANGHAI.
IPR Strategic Business Information Database, September, 2005
According to fdi.gov.cn: The oil giant British Petroleum recently bought over the liquefied petrol gas supply stations and outlets of two gas companies in Shanghai, and founded BP (Shanghai) Liquefied Gas Company. With that, BP successfully makes an entry into Shanghai's LPG retail market. In Fortune's Global Top 500 rating in 2004, BP ranked No.2.
It is also one of the largest multinational investors in China. So far, BP's accumulative investment in China has exceeded 4.3 billion USD. Its target in the Chinese market is to become a major clean energy provider and fully enter into LPG retailing.
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