Gulf’s program for growth in China has reached another landmark stage, with the redefining of its operations in China under a new name: Gulf Oil (China) Co. Ltd.
Gulf has had a presence in China since 1995, when a joint venture was set up between Gulf Oil International and the Yantai Chemical Co., under the title Gulf Oil (Yantai) Co. Ltd. Yantai, in the Shandong Province, was chosen because of its development zone status and it being a convenient location for air, land, and sea transport.
Having established its Chinese headquarters in Yantai, Gulf built a new 50,000-tonne-per-annum blending plant to service its Chinese needs, which opened in November 2006. The ultra-modern, computer-controlled facility, with its automated blending tanks, was a major statement of intent by Gulf of the growing importance of China in its global strategy.
Gulf has now moved into the next phase of its development in China, of which this change of name is a further important reflection. The company has also expanded its Chinese operations through the opening of two new key regional Chinese offices this year – one in Shanghai and the second, opened just last month, in Beijing.