China Petroleum & Chemical Corp., the nation's largest fuel supplier, sold its first shipping fuel, or bunker, cargo in the Middle East as part of a joint sales agreement signed with BP Plc.
The company, also known as Sinopec, supplied a 3,000 metric tonne shipment to the vessel Yangtze Splendor in Fujairah, according to a statement today by China Petrochemical Corp., Sinopec's parent.
BP provided the fuel using its distribution network, according to the announcement. China Petrochemical in August agreed to tap BP's sales network to supply bunker fuel. This is part of the Chinese oil company's efforts to enlarge its shipping fuel business both at home and overseas. Under the agreement, BP will open its global bunkering network to Sinopec's clients, while Sinopec's network inside China will be opened to BP's clients, said Zhou Yiqing, a vice general manager in Sinopec's bunker department