China Aviation, WEPEC In Jet Fuel, Oil Products Sales Agreement
June 27 2009 - 12:54AM
Dow Jones News
SINGAPORE (Dow Jones)- China Aviation Oil (Singapore) Corp.
(G92.SG) late Friday said it entered an agreement with West Pacific
Petrochemical Co. of China to establish a partnership for sale of
jet fuel and other oil products.
China Aviation, a jet fuel supplier, said in a filing with the
Singapore Exchange that it can buy WEPEC's export quota for jet
fuel and other petroleum products produced by WEPEC's refinery
based on the terms of the agreement.
"This is another milestone in our efforts in expanding (China
Aviation Oil's) business beyond the (People's Republic of China)
following our recently announced cooperation arrangement with
CNOOC," said China Aviation Chief Executive Meng Fanqiu.
WEPEC is a joint venture owned by Sinochem Group., PetroChina
Co. (PTR), French oil major Total SA (TOT) and Dalian Construction
Investment Corp, with an annual crude refining capacity of 10
million tons.
-By Se Young Lee, Dow Jones Newswires; +65 6415 4155;
vincent.lee@dowjones.com