Sinopec Continues International Growth, Begins Oil Depot Operations at Sri Lanka's Hambantota Port

General Press Releases Thursday April 9, 2020 12:41
BEIJING--9 Apr--PRNewswire/InfoQuest

China Petroleum & Chemical Corporation ("Sinopec"), China's leading energy and chemical company, officially commenced operations at its newly established oil depot at Hambantota Port in Sri Lanka, successfully refueling its first ship on April 7. Impacting primarily Northeast Africa and South Asia's oil market, Sinopec's Hambantota Port oil depot will enhance its comprehensive bunkering service capabilities, as a significant boost in its continued effort to expand its bunkering activity around the world.

Located on the southern
tip of Sri Lanka, Hambantota Port is only ten nautical miles from the central
Indian Ocean sea lane and is therefore of prime geographical importance. More
than 1/2 of the world's container freight takes this route, as does 1/3 of bulk
shipments and 2/3 of oil shipments. Given its strategic location, Hambantota
Port has emerged as a key port on the Belt and Road. In 2019, Sinopec Fuel Oil
obtained rights for oil trading and operations as well as oil depot maintenance
through global bidding and subsequently registered a wholly-owned subsidiary in
Sri Lanka.
As the COVID-19 outbreak
intensifies around the world and fuel consumption drops, Sinopec has been
committed to implementing epidemic control measures and resuming work and
production, heeding the Chinese government's call to maintain stable foreign
trade by expanding its overseas bunkering business. Prior to the start of the
oil depot's operations, Sinopec Fuel Oil overcame the adverse impact unleashed
by the outbreak by quickly adopting cloud office solutions. During this time,
domestic experts provided remote support to inspect, approve, and jumpstart
operations, enabling the port to successfully realize the first refueling
mission at the new oil depot.
Sinopec Fuel Oil is the
fuel oil and bunkering arm of Sinopec Group. With the vision to build a
world-class integrated bunkering services provider and clean energy supplier,
Sinopec's current fuel supply capacity covers more than 40 key ports
domestically and overseas, supplying oil to more than 10,000 ships annually
around the world.
About Sinopec
Sinopec Corp. is one of
the largest integrated energy and chemical companies in China. Its
principal operations include the exploration and production, pipeline
transportation and sale of petroleum and natural gas; the sale, storage and
transportation of petroleum products, petrochemical products, coal chemical
products, synthetic fibre, fertiliser and other chemical products; the import
and export, including an import and export agency business, of petroleum,
natural gas, petroleum products, petrochemical and chemical products, and other
commodities and technologies; and research, development and application of
technologies and information.
Sinopec sets 'fueling
beautiful life' as its corporate mission, puts 'people, responsibility,
integrity, precision, innovation and win-win' as its corporate core values,
pursues strategies of value-orientation, innovation-driven development,
integrated resource allocation, open cooperation, and green and low-carbon
growth, and strives to achieve its corporate vision of building a world leading
energy and chemical company.
Photo -
Caption: Sinopec Continues International Growth, Begins Oil
Depot Operations at Sri Lanka’s Hambantota Port.
Logo -

Latest Press Release

CP and CPF volunteers pop up community pantry to feed neighborhood

Volunteers from Charoen Pokphand Group set up a community pantry under a project called “Sharing Foods, Sharing Happiness” to feed people who affected by COVID-19 outbreak in the neighborhood of Trok Chan, Sathorn District, Bangkok. Mr....


Try our delicious variety of Pullman homemade pizza, starting at just THB 99 every day at Cuisine Unplugged, 1st floor Pullman Bangkok King Power. If you are looking for easy yet totally yummy food that’s ready to take away and share with your...

Chubb launches 'The Pantry of Sharing by Chubb’ at branches nationwide to support the communities impacted by COVID-19

Chubb Samaggi Insurance Public Company Limited (Chubb Samaggi Insurance) today announced the launch of its community outreach initiative to support those facing increasing hardship due to the COVID-19 pandemic. 'The Pantry of Sharing by Chubb,’...

Get your favorite Thai and Western dishes delivered to your doorstep for only THB 88 net per meal box!

Centara Grand at CentralWorld has put together a special food delivery menu consisting of Thai & Western comfort foods - starting today for only THB 88 net for 1 food box including 1 free bottle of “Good” water (minimum order of 2 food...

Photo Release: B.L. HUA & Co., Ltd. Donates Shure Shot Alcohol Valued 200,000 Baht to SOS Children's Villages Thailand

Tirapongse Pangsrivongse (3rdleft), president of B.L. HUA & Co., Ltd., together with his family, recently donated Shure Shot Alcohol (75% v/v) products to the amount of 200,000 Baht to SOS Children's Villages Thailand to support children in 5 SOS...

Related Topics