ZheJiang Free Trade Zone PetroChina Fuel Oil Co. ,Ltd was registered in Zhoushan Comprehensive Bonded Zone on June 28, 2019. It is a wholly-owned subsidiary of PetroChina Fuel Oil Co., Ltd. with a registered capital of 49 million yuan. It is mainly engaged in the sales and filling of marine fuel oil, as well as the sales, blending, storage and centralized settlement of other fuel oil, non-standard oil products and refined oil.
The company successfully obtained the business qualification of bonded oil for international shipping vessels issued by Zhoushan Municipal government On September 17, 2019, marking that PetroChina Fuel Oil Company officially entered the bonded marine fuel oil market. The company is "the only wholly-owned specialized marine fuel company of China National Petroleum Corporation (CNPC)". Relying on the direct resources from CNPC, Fuel Oil Company's own resources, entrusted repurchase, imported comprehensive resources with refining platform and the leading non-standard oil comprehensive trade platform in China, combined with the regional advantages and preferential policies of Zhejiang Free Trade Zone, the company's marine fuel oil business has a broad and bright prospect.
The company will take "marketization, low-cost, industrialization and internationalization" as its development strategy, take “expansion in bonded, expert in domestic, providing services for Fuel Oil Company to do specialized refining" as its development orientation, adhere to the marketing concept of "customer first, integrity-based, service-oriented", and strive to achieve the 4 million tons sales volume of bonded marine fuel oil in 6-8 years, so as to become a professional oil trading company with certain market influence and sales volume of various oil products and chemicals.
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