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Sinopec Jinling refinery exports gasoline for first time

May 21/2019

MOSCOW (MRC) -- Sinopecs Jinling refinery exported a cargo of 35,600 tonnes of gasoline from its Nanjing plant to Singapore on May 12, marking its first light distillate shipment to a foreign destination, reported Reuters with reference to the company's statement.

Sinopec is boosting exports of a range of refined fuel products to ease a build-up of domestic supplies, the company said via its official newspaper.

China raised fuel export quotas by 30% in its latest allocation as record refinery output exceeds domestic demand for fuel.

As MRC wrote before, in September 2018, China's Sinopec Corp joined a group planning to build an oil refinery in Alberta, an enterprise that would strengthen demand for the Canadian province's heavily discounted crude.

Sinopec Corp. is one of the largest scale integrated energy and chemical company with upstream, midstream and downstream operations. Its principal business includes: exploring, developing, producing and trading crude oil and natural gas; producing, storing, transporting and distributing and marketing petroleum products, petrochemical products, synthetic fiber, fertilizer and other chemical products. Its refining capacity and ethylene capacity rank No.2 and No.4 globally. Sinopec listed in Hong Kong, New York, London and Shanghai in August 2001. Sinopec Group, the parent company of Sinopec Corp., is ranked the 5th in Fortune Global 500 in 2012.


mrcplast.com
Author:Margaret Volkova
Tags:crude and gaz condensate, Sinopec, Canada, China.
Category:General News
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