In 2018, BP and Dongming Petrochemical established a joint venture company and said that the two sides will carry out high-end brand oil products retail and convenience store business in Shandong, Henan and Hebei. BP owns 49% of the joint venture and Dongming Petrochemical owns 51%.
It is understood that there are five brands of foreign gas stations in China, namely Shell, Doodle, BP, Exxon Mobil and Gulf Oil. At present, Shell, Dodall, BP and ExxonMobil have formed large-scale gas stations in China. They are the largest number of Sino-foreign joint-venture gas stations at present. On September 8, 2018, Gulf Oil opened its first gas station in China, and foreign gas stations are developing dark tide surge. But so far, the overall proportion of foreign-funded enterprises does not exceed 3%.
In fact, in addition to BP, Shell terminals are located in Shaanxi, Sichuan, Hebei, Shandong, Shanxi, Tianjin, Guangdong and other places. It is an indisputable fact that the competition pattern of gas stations will become more and more fierce in the future.
With the opening of restrictions on foreign-funded gas stations, more and more foreign-funded gas stations will accelerate their expansion in China in the future. Zhuo Chuangs Information Analyst Yang Xia told Securities Daily that all kinds of capital compete to enter the ranks of gas stations, and the cost of purchase, lease and acquisition of gas stations keeps rising. In the future, the competition pattern of gas stations will become more and more intense, but in a short time, the terminal retail pattern of Chinas refined oil market will not be shaken. However, as foreign-funded petrol stations have developed relatively early in the fuel market, they can certainly draw lessons from their service attitude and business model, which will also play an important role in promoting Chinas fuel market.
Yang Xia believes that if foreign-funded gas stations want to take a firm foothold in the Chinese market, they still need to build joint ventures with Chinese enterprises, especially upstream enterprises, which can effectively guarantee stable upstream supply and equalize risks. Back to 2017, the two barrels of oil set off unprecedented terminal price competition, which had a huge impact on the survival and development of private gas stations. The single fight is no longer suitable for the current terminal market. It has become a trend to find reliable partners by leasing and joining in. Tendency. For example, Dongming Petrochemical and BP have joined forces to enter the fierce battlefields of Shandong, Henan and Hebei.
It is worth mentioning that BP gas station located in Lubei District of Tangshan City, Hebei Province will provide customers with BP high-quality high-quality fuel and high-quality convenience store services. The gas station will also provide customers with ready-made coffee (WildBean brand coffee) and deliver it to the car, while the convenience store will provide free wireless network.
Liu Bingjuan, an information analyst at Longzhong, told the Securities Daily that although the non-oil business of gas stations has been developing for more than 60 years abroad, the water testing non-oil business of domestic gas stations has just started. Compared with the gross profit contribution rate of the non-oil business of 30% to 60% in foreign gas stations, the non-oil business of most domestic gas stations only contributes 5% to 10% of the gross profit rate of the whole gas station, and the gap is very obvious. Foreign-funded gas stations have innate advantages in developing non-oil business. They can introduce advanced foreign ideas and some successful experiences. In the future, there may be more bright spots in the development of non-oil business of foreign-funded gas stations.
Source: Liable Editor of Securities Daily: Yang Qian_NF4425