Sinopec Fuel Oil Sales Co., Ltd. (“Sinopec Fuel Oil”) and BP announced the establishment of a 50:50 marine fuels joint venture in Singapore on May 19. The JV, BP Sinopec Marine Fuels Pte Ltd. represents an important continuity of the long­standing partnership between Sinopec and BP, which have cooperated in both China and abroad.

The JV will build on the existing fuel supply networks and facilities of the two parties  to jointly expand the global marine fuels market. In addition to marine bunkering in Singapore, the JV will also provide services in other major ports around the world, including Fujairah in the UAE, Antwerp in Belgium, Rotterdam and Amsterdam in the Netherlands as well as Tianjin, Qingdao, Shanghai, Ningbo and Shenzhen in China.

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