Shenyang petroleum company to benefit from cooperation

Li Chunjian, chairman of North Huajin Chemical Industries Group Corporation, delivers a speech at the signing ceremony of the strategic cooperation agreement between Shenyang Petroleum Exchange Center and North Huajin Chemical Industries Group Corporation on Feb 22. [Photo/sypex.com.cn]

Shenyang Petroleum Exchange Center and North Huajin Chemical Industries Group Corporation signed strategic agreements on Feb 22 to cooperate on trading petroleum products online, offline delivery, supply-chain financing, warehousing and transportation.

The two sides will give full play to their advantages in the petroleum products trading market to spur innovation in the operation model of Shenyang Petroleum Exchange Center, and create a comprehensive petroleum products marketing network. They also set a goal of reaching an annual petroleum products turnover of 10 billion yuan ($1.45 billion) in 2017.

Shenyang Petroleum Exchange Center, China’s biggest petroleum products spot trading platform, officially opened in Northeast China’s Shenyang, Liaoning province on Nov 23, 2016.

The center now has strong integration abilities in trading resources, which enables it to provide one-stop services for petroleum products trading, including online trading, settlement, financing, offline delivery, warehousing and transportation, according to Chen Hua, general manager of Shenyang Petroleum Exchange Center.

The signing ceremony of the strategic cooperation agreement between Shenyang Petroleum Exchange Center and North Huajin Chemical Industries Group Corporation on Feb 22. [Photo/sypex.com.cn]

The other business partner, North Huajin Chemical Industries Group Corporation, is a subsidiary of China North Industries Group Corporation, China’s weapons manufacturing giant, which mainly operates petrochemical and oil refining businesses.

Li Chunjian, chairman of North Huajin Chemical Industries Group Corporation, expressed his view that North Huajin Chemical Industries Group Corporation has rich petrochemical products; its multiple products, favorable prices and location advantages will boost the development of Shenyang Petroleum Exchange Center.

Chen Hua, general manager of Shenyang Petroleum Exchange Center, delivers a speech on Feb 22. [Photo/sypex.com.cn]