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BP, Sinopec form Singapore-based joint venture bunkering firm

BP, Sinopec form Singapore-based joint venture bunkering firm
BP and Sinopec Fuel Oil have come together to form a 50:50 marine fuels bunkering joint venture named BP Sinopec Marine Fuels, based in Singapore, the world’s largest bunkering port.

The newly established bunkering firm will build out from its partners existing bunkering locations and activities, according to BP. In addition to marine bunkering in Singapore, BP Sinopec Marine Fuels will provide marine bunker sales in key global locations.

The ports served by BP Sinopec Marine Fuels will be Singapore, Fujairah, Antwerp, Rotterdam, Amsterdam, Tianjin, Qingdao, Shanghai, Ningbo and Shenzhen.

For the last 11 consecutive years, BP Singapore has been the largest bunker supplier by volume in Singapore. Sinopec, on the other hand, is a leading bunker fuels provider in China.

“Both companies have a long history of working together in China and overseas, and this agreement represents a significant continuation of the relationship,” BP stated.