Sinopec set to unify paraffin sales business of all subsidiary refineries as from Apr 1, said a source with Sinopec Shanghai Asphalt Sales Branch Co.
Sinopec Oil Refining Marketing Company (transliteration) would take over paraffin sales business from Sinopec Shanghai Asphalt Sales Branch Co, he introduced. The latter had been in charge of sales of bitumen, sulfur and GPC produced by Sinopec’s underlying refineries since its foundation in 2004, according to him.
Upon the unification, the oil major could better optimize paraffin allocation, enhance product competiveness and maximize profit margins, he said.
The oil giant would have more voice in domestic paraffin supplies and pricing, as it would become a stable and leading supplier of paraffin in China, pointed out an industry sources from the paraffin market.
Sinopec Shanghai Asphalt Sales Branch Co, headquartered in Shanghai, has 9 branch offices in China.
