Monday August 21, 2006

Shanghai Petroleum Exchange starts operation

peakoil.com -> english.people.com.cn :

Shanghai Petroleum Exchange, China's first bourse for the spot transaction of oil products, has formally opened. The exchange began trading in gasoline and will trade bitumen, methanol and glycol in the near future. The exchange will launch trading in other petroleum and chemical products in the future, including crude and refined oil and liquefied gas.

The exchange has reached deals with 65 traders, at least 10 warehouses and two banks. The Ministry of Commerce said in a congratulatory letter the inauguration of the exchange is an important move to strengthen China's petroleum market.

(2006-08-21 19:20:03 SGT) [Energy] Permalink

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