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Sinochem Xingzhong Became the First Company in China to Blend Bonded Fuel Oil of Different Tax File Numbers

Date:2018-09-03 Source:Sinochem Xingzhong

Photo: The bonded fuel oil is transmitted from “Brightoil Lucky” to the storage area of Sinochem Xingzhong

On August 27, Sinochem Xingzhong Oil Staging (Zhoushan) Co., Ltd. (Sinochem Xingzhong), an affiliated company of Sinochem Group’s SBU of Energy successfully blended 45 thousand tons of bonded fuel oil of different tax file numbers. This is the first business of such kind in China after Ministry of Commerce approved the blending and processing of bonded fuel oil in the Zhejiang Free Trade Zone.

This time, the two batches of bonded fuel oil of different tax file numbers were both from Malaysia. 45 thousand tons of No. 5 -7 bonded fuel oil were produced from the first business. It is estimated that the bonded oil purchased from Malaysia was directly sent to Aoshan for blending and processing. The cost per ton of bonded fuel oil of the same type was US$15 thousand lower than before.