1. Friday May 25, 2018
      Home > News > Economy
      Text:| Print|

      China Aviation Oil starts storage investment in S. Korea

      2013-04-02 07:55 Xinhua     Web Editor: qindexing comment

      China Aviation Oil (Singapore) Corporation Ltd (CAO), the major physical jet fuel trader in the Asia Pacific region, said on Monday that its new oil storage terminal facility with total capacity of 1.3 million cubic meters in Yeosu of South Korea has started commercial operations.

      The terminal is developed by CAO's associated company, Oilhub Korea Yeosu Co., Ltd (OKYC), 26 percent of whose stakes are owned by the CAO.

      The oil storage terminal, under construction for a period of two years and with a total construction cost of about 500 million U.S. dollars, comprises 36 storage tanks with sizes ranging from 6, 000 cubic meters to 80,000 cubic meters.

      It is capable of handling crude oil and the full range of refined petroleum products, the company said in the announcement handing to the Singapore Exchange.

      The CAO represents the second largest shareholder of the joint venture, while Korean National Oil Corporation is the largest shareholder with stakes of 29 percent. Other shareholders include SK Energy, GS Caltex, Samsung C&T Corp, LG International Corp and Seoul Line Corp, the company added.

      The CAO invested about 34 billion won (32 million U.S. dollars) for the 26 percent equity stake of the joint venture in October of 2011.

      The terminal is only 1.88 days by sea from Tianjin and 1.21 days from Shanghai, respectively. It is also able to support trading activities to the west coast of the United States and Southeast Asia, the CAO said.

      Meng Fanqiu, the Chief Executive Officer said: "As Korea is CAO 's main source of jet fuel supply and located geographically close to its key customers in China, securing oil storage at OKYC's terminal has significantly strengthened CAO's ability to ensure certainty of jet fuel supply to China."

      He said the company has inked an eight-year storage lease with OKYC for middle distillates.

      "The addition of the storage facility at OKYC's terminal will not only complement CAO's jet fuel trading business but will also enhance CAO's network of oil storage facilities in Asia Pacific, providing effective support to our jet fuel supply and trading business," Meng added.

      Comments (0)

      Copyright ©1999-2011 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 亚洲AV无码专区国产乱码不卡| 亚洲娇小性xxxx| 七次郎成人免费线路视频| 日本高清免费中文字幕不卡| 亚洲av永久中文无码精品| 在线免费一区二区| 亚洲欧洲无码一区二区三区| 国内精品免费视频自在线| 亚洲色在线无码国产精品不卡| 好吊妞788免费视频播放| 亚洲av无码偷拍在线观看| 国产成人免费福利网站| 成年大片免费高清在线看黄| 亚洲无码日韩精品第一页| 叮咚影视在线观看免费完整版| 久久亚洲国产伦理| 67194国产精品免费观看| 精品久久久久久亚洲精品| 日韩特黄特色大片免费视频| 看免费毛片天天看| 国产亚洲精品xxx| av大片在线无码免费| 99亚洲乱人伦aⅴ精品| 亚洲精品美女久久久久99小说| 免费人成毛片动漫在线播放| 亚洲区视频在线观看| 免费a级毛片无码av| 国产免费AV片在线观看| 亚洲欧洲自拍拍偷综合| 日本不卡免费新一二三区| 亚洲免费日韩无码系列| 亚洲精品国产福利在线观看| 精品国产免费一区二区| 中文字字幕在线高清免费电影| 亚洲黄色高清视频| 免费播放特黄特色毛片| 亚洲免费福利视频| 四虎一区二区成人免费影院网址 | 亚洲大成色www永久网址| 亚洲AV日韩精品一区二区三区| 久久99精品国产免费观看|