Sinopec Fuel Oil Co plans to start inner-trade bunker supply in the near term, a source with Sinopec said on Thursday.
"The company has almost finished market research. Under the preliminary plan, it will focus on bunker fuel oil wholesale trading," the source said.
This move will not only help to expand Sinopec's participation in the upstream bunker market, but also enable the company to make better use of its market advantage, said some market sources. Sinopec Fuel Oil already has large fuel oil wholesale business in Jiangsu, Shanghai and Zhejiang.
The company may operate inner-trade bunker supply mainly in Guangdong, a market source noted.
Sinopec Fuel Oil has eight branches, located in Tianjin, Shandong, Jiangsu, Shanghai, Zhejiang, Fujian and Zhoushan.
"The company has almost finished market research. Under the preliminary plan, it will focus on bunker fuel oil wholesale trading," the source said.
This move will not only help to expand Sinopec's participation in the upstream bunker market, but also enable the company to make better use of its market advantage, said some market sources. Sinopec Fuel Oil already has large fuel oil wholesale business in Jiangsu, Shanghai and Zhejiang.
The company may operate inner-trade bunker supply mainly in Guangdong, a market source noted.
Sinopec Fuel Oil has eight branches, located in Tianjin, Shandong, Jiangsu, Shanghai, Zhejiang, Fujian and Zhoushan.
