BP and Sinopec set up joint venture marine bunkering business
BP and Sinopec Fuel Oil announced on May 19 the formation of an equal parts marine fuels bunkering joint-venture named BP Sinopec Marine Fuels.
Based in Singapore, one of the largest and busiest ports in the world, the joint venture will build out from its partners existing bunkering locations and activities, according to a release published in BP’s website in late May.
In addition to marine bunkering in Singapore, the joint venture will provide marine bunker sales in key global locations.
BP is a leading global provider of fuel while Sinopec is predominantly a player within China, according to the information.
“Both companies have a long history of working together in China and overseas,” the statement said.
