C1 Energy (Guangzhou) -- Sep 7, 2010-- Sinopec Fuel Oil Marketing Co intends to establish a regional marketing company in Wuhan in Central China's Hubei Province in the second half of September, according to informed sources.
This company will probably be set up around Sep 25, C1 learned from sources with Sinopec's fuel oil sales branches in Central China. "As a regional sales company for Central China, this company will be directly below the headquarters in Beijing," said one of these sources.
This is regarded as another move by Sinopec Fuel Oil to integrate domestic fuel oil sales.
C1 reported in late June that Sinopec planned to take over fuel oil sales business of subsidiary refineries in five provinces and three cities from the third quarter.
Among estimated 22,000mt of fuel oil supply from Central China refineries in September, about 88% is from Sinopec's subsidiary refineries, C1's survey shows.
