Why is MHPC oil so cheap?
1 Answers
As for why MHPC oil is cheap, it's actually a marketing strategy. It's important to know that this industry is largely monopolized by the 'three big oil companies' (Sinopec, CNPC, and CNOOC). Therefore, private gas stations need to offer more customer-friendly refueling promotions to attract repeat customers. The low-price oil sales mentioned here are one of such strategies. More details are as follows: 1. Meaning of MHPC: MHPC stands for Minhai Petrochemical Gas Station, a subsidiary of Fujian Minhai Group, established in 1995. It is a comprehensive energy group integrating wholesale trade of refined oil, investment and construction of petrochemical storage, development and operation of gas stations, and logistics distribution of refined oil. 2. Development status: After more than 20 years of development, it has now become the largest private refined oil trading enterprise in Fujian Province. Currently, it operates over 40 gas stations in Fujian, Guangdong, and Zhejiang provinces, with convenience stores in the stations supplying up to 2,000 types of goods. In 2011 and 2016, it was rated as one of the 'Top 100 Enterprises in Fujian Province' and has been selected as the vice-chairman unit of the Petroleum Chamber of Commerce of the All-China Federation of Industry and Commerce for many consecutive years.
