RIA Novosti reported that a joint refinery project between Russian state owned oil producer Rosneft and China National Petroleum Corporation could see the creation of 300 gas station to 500 gas stations in China.

The refinery, to be located some 100 kilometers outside Beijing, will produce fuel complying with strict international standards and will have an annual capacity of 15 million tonnes.

Mr Igor Sechin Russian Deputy Prime Minister said that the joint Russian-Chinese refinery would have a large market. He said that "It will be possible to build and develop from 300 to 500 gas stations on the territory of China."

The joint venture was registered last October. Rosneft holds 49% of the joint venture while CNPC owns 51%.

(Sourced from RIA Novosti)