Total S.A.
30 September 2005
New Joint Venture between Total and Sinochem
for a Service Station Network in Eastern China
Paris - September 30, 2005 - On 29 September, Total signed a second joint
venture agreement with Sinochem, to set up a network of 300 service stations in
the provinces of Jiangsu, Zhejiang and Shanghai, in Eastern China, with a global
investment of around $100 million. This new joint venture (49% Total and 51%
Sinochem) is subject to the approval of the Chinese authorities.
Total and Sinochem have been partners for over 10 years in one of the country's
main refineries, located in Dalian, in Northern China and, since 2004, in a
joint venture to set up a network of 200 service stations in the provinces of
Beijing, Tianjin, Hebei and Liaoning, also in Northern China. They are co-
operating again for this new network around Shanghai. Sinochem is one of the
four Chinese oil companies, specialising in logistics and trading, as well as
chemicals manufacturing and trading.
'This investment builds on our co-operation in refining and marketing with
Sinochem in Northern China', said Thierry Desmarest, Chairman and CEO of Total,
when the agreement was signed in Beijing. In addition to its interest in the
Dalian refinery and the first joint venture in Northern China, Total is already
active in the downstream sector, with service stations in the province of Hubei,
lubricants sold under the Elf and Total brands, in liquid petroleum gas,
specialty fluids, petrochemicals and specialty chemicals.
* * * * * *
Total is the fourth largest oil and gas company in the world with operations in
more than 130 countries. Total's activities cover the whole energy chain of the
petroleum industry: exploration, oil and gas production, refining and marketing,
trading and power generation. The Group is also a major player in chemicals.
Total has more than 111,000 employees worldwide. More information can be found
on the company's website: www.total.com
Sinochem Corp. is a large state-owned Chinese enterprise and one of the four
national oil companies. It is also the country's largest fertilizer importer and
phosphate and compound fertilizer producer. To learn more, go to:
www.sinochem.com
Media Relations:
Total
Paris : Christine de Champeaux, Tel. : +33 (0)1 47 44 47 49 or
+33 (0)6 82 82 71 71, Fax :+33 (0)1 47 44 66 21
Beijing: Jean-Louis Petit, General Manager of Total China Tel +8610 6505 2921
(ext 701/702) Fax +8610 6505 1881
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.