Woolworths petrol stations

Woolworths petrol stations are believed to have drawn interest from the Chinese and a party that already operates in the space is said to be circling in the event that the sale to BP does not complete. According to a media source, BP is due to decide in the next few weeks whether it takes the Australian Competition & Consumer Commission to court in the next step of its battle to buy Woolworths’ petrol stations. Should the deal not proceed, though, it is understood other parties are positioning themselves to come forward with alternative offers. One party that may be a suitor is PetroChina. The Chinese oil and gas company is the listed arm of state-owned China National Petroleum, and last year it went on a global spending spree for petrol stations in a global expansion extending to Pakistan, west Africa and Brazil, according to reports. It has been part of a plan to have a foothold in emerging markets and grow market share locally. Source: www.theaustralian.com.au As a reminder, the WOW deal was rejected by the ACCC in December 2017; BP is still in the process of taking legal advice on whether or how to challenge the decision.