China's second petroleum exchange opens in Dalian
Dalian Petroleum Exchange, China's second petroleum exchange, today began commercial operations, the official Xinhua news agency reported.
The exchange, located in northeastern port city of Dalian, will trade fuel oil, bitumen, and several other petroleum and chemical products.
It has a registered capital of 10 mln yuan and over 150 member traders, the agency said.
The basis for the exchange is the petroleum and chemical products market in the Dalian Bonded Area, which has an annual trade volume of 10 bln yuan.
The investors in the exchange are Liaoning's Liaohe Petroleum Exploration Bureau, a subsidiary of China National Petroleum Corp, and Sinopec Shengli Oilfield Co.
Dalian is one of China's major refined oil production bases and a major transfer port for crude oil. Last year, it processed 19.68 mln tons of crude oil and transfered 21.85 mln tons.
The opening of the Dalian Exchange follows the launch of the Shanghai Petroleum Exchange last year.
The exchange, located in northeastern port city of Dalian, will trade fuel oil, bitumen, and several other petroleum and chemical products.
It has a registered capital of 10 mln yuan and over 150 member traders, the agency said.
The basis for the exchange is the petroleum and chemical products market in the Dalian Bonded Area, which has an annual trade volume of 10 bln yuan.
The investors in the exchange are Liaoning's Liaohe Petroleum Exploration Bureau, a subsidiary of China National Petroleum Corp, and Sinopec Shengli Oilfield Co.
Dalian is one of China's major refined oil production bases and a major transfer port for crude oil. Last year, it processed 19.68 mln tons of crude oil and transfered 21.85 mln tons.
The opening of the Dalian Exchange follows the launch of the Shanghai Petroleum Exchange last year.