The European Commission has approved the acquisition of joint control over a newly created joint venture between UK oil major BP and China National Aviation Fuel (CNAF) Group.

Called CNAF Air BP General Aviation Fuel Company, it will be active in the supply of aviation fuel in China.

CNAF is a state-owned company that supplies fuel for the aviation sector both in China and overseas.

The Commission said the proposed acquisition would raise no competition concerns as the joint venture “has no, or negligible, actual or foreseen activities within the European Economic Area”.