(EnergyAsia, Feb 28) — UK major BP and China’s Dongfeng Automobile Co Ltd have jointly invested 120 million yuan to set up Dongfeng Castrol Oil Co Ltd in the Wuhan Economic and Technological Development Zone.

 

The equal joint venture company, with a registered capital of 80 million yuan, will develop, produce and market engine protective liquids, vehicle oils and other environment-friendly petrochemical products.

 

BP, which claims a 30% share of the world’s market in vehicle oils, has invested more than US$4 billion in China.