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Sinopec establishes fuel oil sales unit at Hambantota, Sri Lanka

15 Jul 2019

Chinese oil major Sinopec on Monday (15 July) said it has established Fuel Oil Sri Lanka Co Ltd for the sale of marine fuel to vessels at Hambantota as part of operations to support China’s ‘Belt and Road’ initiative.

The Hambantota-registered company is a follow-up to developments in April, where Sinopec Fuel Oil Sales Co. Limited won a tender process held by Hambantota International Port (HIP) to provide marine fuel and other ancillary facilities to marine liners calling and passing through Hambantota.

Sinopec in June said it will produce 10 million metric tonnes (mt) and 15 million mt of low-sulphur marine fuel oil (LSFO) respectively in 2020 and 2023.

The company has signed a Memorandum of Understanding with Marubeni Corporation for the supply of 0.5% LSFO marine fuel.

Related: Sinopec to provide marine fuels and bunkering at Hambantota
Related: Sinopec targets 10 million mt, 15 million mt LSFO production by 2020, 2023
Related: Marubeni becomes ‘strategic partner’ of Sinopec Fuel Oil LSFO bunkers

Photo credit: Sinopec
Published: 16 July, 2019

 

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