China National Petroleum Corp (CNPC), the country's largest oil producer, plans to open 60 gasoline and natural gas filling stations in Chongqing to boost business in the region.
The deal is an important part of the company's agreement with Chongqing municipality, CNPC said on its website yesterday. The two parties signed the agreement last December.
CNPC did not say when it would start construction of the stations or provide the total investment figure.
The company did not make further comment on the deal yesterday.
CNPC has around 18,000 filling stations in China. Every day, the company opens four to five new stations, it said on its website.
State oil companies are expanding in Chongqing to tap energy demand in the region. The country's largest refiner Sinopec also signed framework agreements with the municipal government to develop oil and gas projects.
A strategic oil reserve will be developed in Chongqing's Wanzhou district to help secure the country's oil supply. The reserve is part of the second phase of the nation's strategic oil reserve plan.
The Sichuan Reserves Administration Bureau and the Wanzhou district's local government signed an agreement last November to set up the reserve.
The central government will not focus solely on the eastern part of the country to build strategic oil reserves, said oil expert Han Xuegong.
According to the National Development and Reform Commission, the second phase of the strategic oil reserve plan will have a total capacity of 28 million tons.