Chinese state refiner Sinopec Corp. said on Dec. 29 its Hongkong subsidiary has acquired a 49% stake in Thailand's Susco Dealers Company Ltd to expand fuel retail business there.
The investment by Sinopec Hongkong Co. Ltd combines the Chinese refiner's fuel supply base and its brand with the Thai company's retail network, Sinopec said in a statement, without providing the size of the investment.
The joint venture will also explore developing into low-carbon and new energy business such as electric vehicles, hydrogen fuel and biofuels, it added.
Sinopec Hongkong supplies and trades refined fuel products in Hongkong and nearby Asia-Pacific markets.
A unit of fuel wholesaler and retailer Susco Public Company Ltd, Susco Dealer specializes in supplying fuel in the Thai capital Bangkok, including jet fuel refueling at its main airports.
Recommended Reading
E&P Highlights: Feb. 24, 2025
2025-02-24 - Here’s a roundup of the latest E&P headlines, from a sale of assets in the Gulf of Mexico to new production in the Bohai Sea.
E&P Highlights: Feb. 18, 2025
2025-02-18 - Here’s a roundup of the latest E&P headlines, from new activity in the Búzios field offshore Brazil to new production in the Mediterranean.
E&P Highlights: Jan. 27, 2025
2025-01-27 - Here’s a roundup of the latest E&P headlines including new drilling in the eastern Mediterranean and new contracts in Australia.
E&P Highlights: March 10, 2025
2025-03-10 - Here’s a roundup of the latest E&P headlines, from a new discovery by Equinor to several new technology announcements.
E&P Highlights: Jan. 13, 2025
2025-01-13 - Here’s a roundup of the latest E&P headlines, including Chevron starting production from a platform in the Gulf of Mexico and several new products for pipelines.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.