SINOPEC Fuel Oil Sales Corporation Limited is a full subsidiary of China Petroleum and Chemical Corporation. Headquartered in Beijing, the Company has a registered capital of RMB 2.2 billion and has 7 branch companies in Tianjin, Shandong, Shanghai, Jiangsu, Zhejiang, Fujian and Guangdong as well as 1 full subsidiary in Zhoushan, Zhejiang.The Company consolidates 32 fuel oil producers, 7 provincial and municipal fuel oil distributors under SINOPEC umbrella. It is specialized in the comprehensive operation and professional management of SINOPEC’s fuel oil business.The Company will fully leverage the advantages of SINOPEC’s integrated operation, optimize markets and resources home and abroad, broaden resource channel and promote fuel oil procurement and distribution.The Company will integrate and optimize storage and transportation facilities as well as distribution network, providing full-range services to customers.The Company will leverage business license of bonded bunker fuel of Zhejiang Zhoushan Company to establish a franchise network covering major domestic ports in China to boost sales volume, making fuel oil a growing business that is comparable to SINOPEC’s brand image.The company will expand its presence in international market, increase overseas sales volume so as to enhance SINOPEC’s global competitiveness.
About Sinopec
