Shell Subsidiary Receives Oil Products Wholesale License In China
Reuters
1 min read
Jan 03, 2019, 01:24 AM
Shell China, a unit of Royal Dutch Shell, said on Monday that its Zhejiang-based subsidiary Shell (Zhejiang) Petroleum Trading Ltd Co has received a license to trade refined oil products in China. The license will allow Shell to trade oil products in the wholesale market, according to a press release from Shell China, expanding its business beyond serving consumers at petrol stations.
* Shell was among only a handful of foreign enterprises to win such a license, along with Exxon Mobil and Saudi Aramco via their joint venture Sinopec SenMei with state-owned Sinopec. China has issued products trading license to more than 400 companies since it opened up the wholesales fuel trading market to private companies in 2006
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