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China's CNAF signs strategic alliance pact with oil major BP

Gasoil News - Published on Mon, 24 Dec 2018

Image Source: ET EnergyWorld
Reuters reported that China National Aviation Fuel Company, the country's near-monopoly jet fuel distributor, has signed a global strategic cooperation pact with oil major BP, according to a report posted on a government website. The agreement, signed, covers areas such as air transportation and jet fuel supplies for general aviation, said the report, posted on the website of the State-owned Assets Supervision and Administration Commission. The report did not give further details of the pact.

CNAF and BP set up their first joint venture, supplying jet fuel to south China's Shenzhen airport, in 1991. The two firms then founded a second JV - South China Blue Sky - in 1998 which started with selling 600,000 tonnes a year of aviation fuel, with volumes estimated to reach 6 million tonnes this year.

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Posted By : Joykumar Irom on Mon, 24 Dec 2018
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