Chinese Oil Majors Set Up Jet Fuel Venture.Chinese Chinese, subfamily of the Sino-Tibetan family of languages (see Sino-Tibetan languages), which is also sometimes grouped with the Tai, or Thai, languages in a Sinitic subfamily of the Sino-Tibetan language stock. oil majors set up a joint venture on Nov. 8 to supply jet fuel to more than 100 airports in China, the world's second biggest oil consumer. This is to sharpen sharp·en tr. & intr.v. sharp·ened, sharp·en·ing, sharp·ens To make or become sharp or sharper. sharp their competitive edge ahead of China's move to open its oil market. China Aviation Oil Holding Co., originally the sole owner of China Aviation Oil Supply Co, would keep 51% in the new JV, the state-owned Assets Supervision and Administration Commission said on its Website www.sasac.gov.cn. China National Petroleum Corp (CNPC CNPC China National Petroleum Corporation CNPC Centro Nacional de la Productividad y la Calidad (Chile) CNPC Commander, Navy Personnel Command CNPC China National Philatelic Corporation (Chinese stamp authority) ) would take 20% and Sinopec Group 29% in the new company which would offer jet fuel to more than 100 airports in China. The new JV would "effectively enhance the international competitiveness of Chinese aviation oil supply companies and strengthen the anti-risk ability of these companies after China opens its aviation oil market". China will open its retail oil market at the end of this year and its wholesale market by end- end- pref. Variant of endo-. 2006. CNPC is the parent of oil major PetroChina. Sinopec Group is the parent of Sinopec. China Aviation Oil Holding Co. is the parent of Singapore-listed China Aviation Oil (Singapore) Corp Ltd, which supplies almost all of China's jet fuel import needs. Eventually, the new JV will be supplying jet fuel to airports in other Asian countries Noun 1. Asian country - any one of the nations occupying the Asian continent Asian nation country, land, state - the territory occupied by a nation; "he returned to the land of his birth"; "he visited several European countries" . |
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