SINGAPORE, Dec. 19 (Xinhua) -- China Petroleum and Chemical Corporation (Sinopec), a listed company incorporated by China Petrochemical Corporation (Sinopec Group), formally put its first gas station in Singapore into operation on Tuesday.
The new gas station is located at Yishun Avenue 1 in the north region of Singapore.
It is noted that Sinopec's second gas station in Singapore will be located at Bukit Timah in the city-state's central region, which will come into operation soon.
Both stations are built by the Sinopec (Hong Kong) Limited, a subsidiary of Sinopec. The company said in a press release that Singapore is a highly developed economy and one of the major oil-refining and trading centers in Southeast Asia. With Singapore's well functioned and established petroleum market, Sinopec aims to break new ground through energy cooperation in the city-state.
Gao Wang, Director and Managing Director of Sinopec (Hong Kong) Limited, told Xinhua that the new launched gas station marks a step forward by Sinopec in Singapore under the strategy of going global. He added that Sinopec will look for opportunities to expand its retail network in the city-state.
Sinopec Group is the largest product oil and petrochemicals supplier and the second largest oil and gas producer in China, the largest refining company and the second largest chemical company in the world. It ranks the second in the world by the total number of gas stations. The company ranked the third on Fortune's Global 500 List in 2018.
PetroChina, another Chinese oil and gas giant, has been in Singapore's gas station market for years. Singapore Petroleum Company Limited (SPC), owned by PetroChina International (Singapore) Pte. Ltd., owns the third largest island-wide retail network in Singapore. (Contributed by Li Xiaoyu, edited by Niu Huizhe)
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