Kangqi Oil to expand into oil products trading

Kangqi Oil Pte. Ltd. has formed a new corporate entity called Kangqi International (KI), with the aim of expanding into international oil markets. The Singapore-based Chinese oil trading company has significant storage facilities in north, south and eastern China, and on the strength of these China assets, the company said it has reached a level of maturity that has prompted it to branch out into global markets. KI is headed by Chief Executive Officer Michael Ng, who led the fuel trading team to leave Reliance Industries Ltd. in late February. (February 25/ March 3, 2009)