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Shell (North China) Group announced on September 3 that the company was going to increase the number of gas stations in Shandong from the current 30 to 200 in the next three years.
Then, in order to attract more car owners, Shell is going to upgrade the oil without increasing the price.
Shell’s new efforts in Shandong are closely related with the situation of gas stations in this area. Presently there are ten thousand gas stations in Shandong, half of which are privately funded. The future development plan concerning gas stations of this province has already cast strict control over the number. That means Shell, BP, SK and other foreign oil companies need to acquire private gas stations for their expansion in China.
Actually, they are doing this. They are busy acquiring gas stations in Shandong, stirring up a new wave of mergers and acquisitions closely following two state-owned giants CNPC and Sinopec.
New Attempt with New Formula
After Korea-based GS Caltex’s entry in Qingdao, Shandong in 2007, Shell, BP and SK subsequently got into the product oil retail market. The “foreign competitors” urged CNPC and Sinopec to accelerate their integration of the oil retail market in Shandong, when a large number of oil enterprises are acquired by the two giants. Five years later, foreign gas stations have settled down in Shandong and are barely a threat for CNPC and Sinopec.“Private companies cannot withstand the state-owned companies. Neither can foreigners,” said a director of a private gas station in Jinan, Shandong. For these gas stations, selling a liter of product oil could bring the income of 0.2-0.3 yuan and the massive profits are based on the great sales volume. With a much smaller number of gas stations, foreign oil companies are not blessed in the competition with CNPC and Sinopec and thus they are hardly able to shake their dominant place in Shandong.
Take Shell for example: this Dutch company founded its first gas station in Shandong in 2010. In the next two years, Shell established 30 gas stations in Weifang, Zibo, Dezhou, Jinan and Bingzhou. None of other foreign oil companies have established over 100 gas stations in Shandong. That number greatly pales in front of the 3000 gas stations of Sinopec and over 1000 gas stations of CNPC.
But the “never worried about money” foreign oil giants do not give up this market.
On September 3, Shell held a press conference to present the market with its new economical gasoline based on a new formula. In the conference, Shell reiterated its ambitious plan of building 200 gas stations in Shandong in the next three years. According to Sun Qun, general manager of the Shell (North China) Group, the new formula can efficiently clean the engine gas induction system and reduce the mire and carbon deposited in the suction wave.
The Triple Fighting in the Product Oil Market
Shandong is a big producer and consumer of product oil. That’s why it’s under scrutiny of so many companies. The process of examining and approving the establishment of gas stations in Shandong became much stricter in those years, reducing the number of gas stations from 10161 five years ago to about 9000 at the present day. CNPC and Sinopec own around 4000 of them and the rest are shared by foreign companies and private owners. Though the number of gas stations owned by foreigners and private owners are almost equal to state-owned companies, their market is far smaller than the latter (30% versus 70%).
As Zhu Chunkai, an analyst of product oil market, CNPC and Sinopec’s dominant place cannot be shaken by any others. In recent years, privateowned gas stations and foreign gas stations are going through some new changes. For private-owned companies, Shandong Jingbo Co., Ltd and Shandong Wantong Group, which are wellestablished local oil refinery companies in Shandong, have marched into the retail market. Jingbo established over 40 gas stations in Bingzhou and surrounding areas. Wantong got a bigger size as it established over 100 gas stations a long time ago. With their advantages in oil resources, local oil refinery companies are massively involved in oil retail market. This changed the private gas stations’ features of being chaotic, scattered and small. As for foreign companies, their great capital strength allows them to accelerate their pace of acquiring gas stations and quickly increase their presence in the counties or towns where CNPC and Sinopec are rarely engaged. It is known that Shell has already established 15 gas stations in Weifang, almost covering all the ma- jor areas of this city.
Then, the 5000 or more private gas stations are undoubtedly their ideal targets of acquisition in the future.
The Increasing Value of Private Gas Stations
The multinationals’ favor greatly pushed up the value of private gas stations. “In Shanghai, acquiring a gas station costs hundreds of million yuan,” said Zhu Chunkai. Though the value of gas stations in Shandong is a bit smaller, the recent expansion of cities thinned out the gas stations in cities, turning them into a kind of rare resource. In Jinan, a gas station at least values tens of million yuan.
According to the Development Plan of Gas Stations and Oil Storage in Shandong Province from 2005 to 2015, the provincial government applies strict control over the total number of gas stations, fixing the annual growth rate of the number at below 2%. No cities are allowed to expand the number of gas stations inside them at an over 3% pace. In addition, the newly-built and relocated gas stations must be separated from each other with a certain distance. For example, there should not be more than 3 pairs of gas stations every 100 kilometers of the expressway(a pair means two gas stations standing on both sides of the expressway). In the urban area, the service radius of a gas station is not shorter than 0.9 kilometers.
Then, in order to attract more car owners, Shell is going to upgrade the oil without increasing the price.
Shell’s new efforts in Shandong are closely related with the situation of gas stations in this area. Presently there are ten thousand gas stations in Shandong, half of which are privately funded. The future development plan concerning gas stations of this province has already cast strict control over the number. That means Shell, BP, SK and other foreign oil companies need to acquire private gas stations for their expansion in China.
Actually, they are doing this. They are busy acquiring gas stations in Shandong, stirring up a new wave of mergers and acquisitions closely following two state-owned giants CNPC and Sinopec.
New Attempt with New Formula
After Korea-based GS Caltex’s entry in Qingdao, Shandong in 2007, Shell, BP and SK subsequently got into the product oil retail market. The “foreign competitors” urged CNPC and Sinopec to accelerate their integration of the oil retail market in Shandong, when a large number of oil enterprises are acquired by the two giants. Five years later, foreign gas stations have settled down in Shandong and are barely a threat for CNPC and Sinopec.“Private companies cannot withstand the state-owned companies. Neither can foreigners,” said a director of a private gas station in Jinan, Shandong. For these gas stations, selling a liter of product oil could bring the income of 0.2-0.3 yuan and the massive profits are based on the great sales volume. With a much smaller number of gas stations, foreign oil companies are not blessed in the competition with CNPC and Sinopec and thus they are hardly able to shake their dominant place in Shandong.
Take Shell for example: this Dutch company founded its first gas station in Shandong in 2010. In the next two years, Shell established 30 gas stations in Weifang, Zibo, Dezhou, Jinan and Bingzhou. None of other foreign oil companies have established over 100 gas stations in Shandong. That number greatly pales in front of the 3000 gas stations of Sinopec and over 1000 gas stations of CNPC.
But the “never worried about money” foreign oil giants do not give up this market.
On September 3, Shell held a press conference to present the market with its new economical gasoline based on a new formula. In the conference, Shell reiterated its ambitious plan of building 200 gas stations in Shandong in the next three years. According to Sun Qun, general manager of the Shell (North China) Group, the new formula can efficiently clean the engine gas induction system and reduce the mire and carbon deposited in the suction wave.
The Triple Fighting in the Product Oil Market
Shandong is a big producer and consumer of product oil. That’s why it’s under scrutiny of so many companies. The process of examining and approving the establishment of gas stations in Shandong became much stricter in those years, reducing the number of gas stations from 10161 five years ago to about 9000 at the present day. CNPC and Sinopec own around 4000 of them and the rest are shared by foreign companies and private owners. Though the number of gas stations owned by foreigners and private owners are almost equal to state-owned companies, their market is far smaller than the latter (30% versus 70%).
As Zhu Chunkai, an analyst of product oil market, CNPC and Sinopec’s dominant place cannot be shaken by any others. In recent years, privateowned gas stations and foreign gas stations are going through some new changes. For private-owned companies, Shandong Jingbo Co., Ltd and Shandong Wantong Group, which are wellestablished local oil refinery companies in Shandong, have marched into the retail market. Jingbo established over 40 gas stations in Bingzhou and surrounding areas. Wantong got a bigger size as it established over 100 gas stations a long time ago. With their advantages in oil resources, local oil refinery companies are massively involved in oil retail market. This changed the private gas stations’ features of being chaotic, scattered and small. As for foreign companies, their great capital strength allows them to accelerate their pace of acquiring gas stations and quickly increase their presence in the counties or towns where CNPC and Sinopec are rarely engaged. It is known that Shell has already established 15 gas stations in Weifang, almost covering all the ma- jor areas of this city.
Then, the 5000 or more private gas stations are undoubtedly their ideal targets of acquisition in the future.
The Increasing Value of Private Gas Stations
The multinationals’ favor greatly pushed up the value of private gas stations. “In Shanghai, acquiring a gas station costs hundreds of million yuan,” said Zhu Chunkai. Though the value of gas stations in Shandong is a bit smaller, the recent expansion of cities thinned out the gas stations in cities, turning them into a kind of rare resource. In Jinan, a gas station at least values tens of million yuan.
According to the Development Plan of Gas Stations and Oil Storage in Shandong Province from 2005 to 2015, the provincial government applies strict control over the total number of gas stations, fixing the annual growth rate of the number at below 2%. No cities are allowed to expand the number of gas stations inside them at an over 3% pace. In addition, the newly-built and relocated gas stations must be separated from each other with a certain distance. For example, there should not be more than 3 pairs of gas stations every 100 kilometers of the expressway(a pair means two gas stations standing on both sides of the expressway). In the urban area, the service radius of a gas station is not shorter than 0.9 kilometers.