According to Guangzhou Economic and Trade Commission, China National Offshore Oil Corp, one of the 3 major national oil tycoons, will enter Guangzhou's finished product oil market in the last part of 2006.

The China National Offshore Oil Corp set up a sales branch in Guangzhou Economic and Technical Development Zone last month to establish its sales network. The company's oil refinery in Dongguan is under construction and expected to be operational in 2008.

The refinery will facilitate the company's transportation and sales of finished product oil in Guangzhou. Wu Qingbiao, vice president of Guangdong Oil & Gas Association, said that it will extend the oil supply channel to relieve the strain in Guangzhou.

Editor: Yan