Sinochem retains a competitive edqe in oil trade business,operating nearly 77 million tons of oil products every year，with the ratio of 1 to 1.2 between import and entrepot. The long-standing good relations with the world's major oil producing nations and oil companies have secured us 40 million metric tons of equity crude oil per annum, backed by long-term contracts. The crude oil for trading comes from Saudi Arabia, Oman, Iraq, the Kingdom of Bahrain, the United Arab Emirates, Yemen, Qatar, Vietnam, Syria and Indonesia etc.
Sinochem maintains long-term and stable cooperation in oil trading and risk management with international oil majors and major financial institutions in the world. With good reputation, sound operation channels, and technological means advantages, Sinochem is providing premium crude oil together with professional services to clients home and abroad, and thus has enjoyed steady and broad global marketing channels. While satisfying domestic market demand for overseas crude oil supported by long-term contracts and spot purchase, Sinochem is also actively engaged in entrepot business with refineries from Southeast Asia, Europe and North America, vigorously developing core commodities and key businesses, promoting advantageous commodities, and is becoming major crude oil supplier for many countries and areas, coupled with substantial increase in business scale and profit. Sinochem is also engaged in import agency service of aviation fuel, naphtha, duty-free marine diesel, and entrepot agency service of diesel.
In concert with the development of oil trading business, Sinochem has been strengthening ties with large international tanker owners, providing convenient and efficient ship chartering services to Chinese oil import clients and third-country entrepot clients, and expanding the scale of self-operated shipping business through various means such as time chartering. As of now, Sinochem is chartering and running 5 VLCCs, and has initially established professional oil transportation service capability.