Sinopec to increase product supply in Fujian

Sinopec Senmei (Fujian) Petroleum Co., Ltd. plans to lift its refined oil supply to Southeast China’s Fujian Province by 20% year on year in June 2008. Sinopec Senmei was jointly created by China Petroleum & Chemical Corporation (Sinopec), ExxonMobil and Saudi Aramco in 2007 for fuel sales business in Fujian Province. The company has poured products 20% more than a year ago into the province in April and May. Driven by higher international oil prices, Fujian diesel oil wholesale prices have risen recently. For instance, the wholesale prices of No. 0 diesel oil reached a record 7,300 yuan (US$1,057.60) per ton in Fuzhou and Xiamen, two major cities in the province, on May 21, increasing by 350 yuan (US$50.71) a ton, or 5%-plus, from the beginning of the month. (May 27, 2008)