Sinochem raises 2019 term oil supply from Saudi Aramco, Kuwait

By Chen Aizhu
Friday, November 9, 2018

China's Sinochem Group agreed to annual crude oil supply deals for 2019 with Saudi Aramco and Kuwait Petroleum Corp (KPC) with volumes from both suppliers more than 20 percent higher than in 2018, a senior Sinochem executive said on Friday.

The Saudi volumes will be processed at Sinochem's wholly-owned Quanzhou refinery in southeast China's Fujian province, as well as at the Hongrun refinery in Shandong province and the West Pacific Petrochemical Corp (WEPEC) plant in Dalian, the executive said, declining to be named because he is not authorised to speak to the media. Sinochem, a state-run conglomerate with interests in oil to agriculture, owns stakes in both Hongrun and WEPEC. The company did not immediately respond to a request for a comment on Friday.

The Kuwaiti supplies will go to Quanzhou and Hongrun, the Sinochem executive said, speaking on the sidelines of an industry event in Shanghai. He declined to state the outright volumes.

Sinochem's 2019 contracts, inked earlier this week, were among a clutch of contracts signed by Chinese oil companies during the China International Import Expo in Shanghai, which ends on Saturday.

PetroChina signed annual crude oil supply deals with Aramco and KPC at the Expo on Wednesday, while Sinopec inked a 2019 supply deal with KPC on Thursday.


(Reporting by Aizhu Chen; Additional reporting by Meng Meng in BEIJING; Writing by Tom Daly; Editing by Christian Schmollinger)

Categories: Middle East Asia

Related Stories

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

Woodside Finds South Korean Partners to Advance LNG Value Chain

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Current News

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com