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BP, Sinopec Launch Bunkering Joint Venture In Singapore

by Jason Gorringe, Tax-News.com, London

28 May 2015


BP and Sinopec Fuel Oil on May 19, 2015, announced the formation of a 50:50 marine fuels bunkering joint-venture, BP Sinopec Marine Fuels Pte Ltd.

Based in Singapore, one of the largest and busiest ports in the world, the joint venture will build out from its partners' existing bunkering locations and activities. In addition to marine bunkering in Singapore, the joint venture will provide marine bunker sales in key global locations.

The ports served by BP Sinopec Marine Fuels Pte Ltd will be: Singapore; Fujairah, United Arab Emirates; Antwerp, Belgium; Rotterdam and Amsterdam in the Netherlands; and Tianjin, Qingdao, Shanghai, Ningbo, and Shenzhen, in China.

BP is an established and leading global provider of marine fuels, and Sinopec is a leading provider within China. Announcing the deal, BP said both companies have a long history of working together in China and overseas.

TAGS: United Arab Emirates | marine | Belgium | Netherlands | China | Singapore

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