Exxon Mobil has announced its biggest single investment in China, a joint venture to run 750 petrol stations and a petrochemical refinery.
It will take a 22.5% stake in the service station scheme, alongside China's top refiner Sinopec, with 55%, and Saudi Aramco, with 22.5%.
The three firms are also working together on the refinery project due to begin in 2009 in Fujian province.
It will take a 22.5% stake in the service station scheme, alongside China's top refiner Sinopec, with 55%, and Saudi Aramco, with 22.5%.
The three firms are also working together on the refinery project due to begin in 2009 in Fujian province.
The foreign investment is worth about $5bn, the firms said.
