China and Russia have established a joint venture between Rosneft, Russia's largest oil supplier, and CNPC that will set up around 300 gas stations and process 10 million tons of crude oil a year, Rosneft announced here Friday.CNPC will own 51 percent of the company and Rosneft the remainder, said President Sergei Bogdanchikov.
He told Xinhua that the 300 service stations will use gas from China or Russia depending on which is less expensive.
