PR83627

BEIJING, April 9, 2020 /PRNewswire=KYODO JBN/ --

China Petroleum & Chemical Corporation ("Sinopec"), China's leading energy and

chemical company, officially commenced operations at its newly established oil

depot at Hambantota Port in Sri Lanka, successfully refueling its first ship on

April 7. Impacting primarily Northeast Africa and South Asia's oil market,

Sinopec's Hambantota Port oil depot will enhance its comprehensive bunkering

service capabilities, as a significant boost in its continued effort to expand

its bunkering activity around the world.

Photo - https://photos.prnasia.com/prnh/20200409/2773251-1

Located on the southern tip of Sri Lanka, Hambantota Port is only ten nautical

miles from the central Indian Ocean sea lane and is therefore of prime

geographical importance. More than 1/2 of the world's container freight takes

this route, as does 1/3 of bulk shipments and 2/3 of oil shipments. Given its

strategic location, Hambantota Port has emerged as a key port on the Belt and

Road. In 2019, Sinopec Fuel Oil obtained rights for oil trading and operations

as well as oil depot maintenance through global bidding and subsequently

registered a wholly-owned subsidiary in Sri Lanka.

As the COVID-19 outbreak intensifies around the world and fuel consumption

drops, Sinopec has been committed to implementing epidemic control measures and

resuming work and production, heeding the Chinese government's call to maintain

stable foreign trade by expanding its overseas bunkering business. Prior to the

start of the oil depot's operations, Sinopec Fuel Oil overcame the adverse

impact unleashed by the outbreak by quickly adopting cloud office solutions.

During this time, domestic experts provided remote support to inspect, approve,

and jumpstart operations, enabling the port to successfully realize the first

refueling mission at the new oil depot.

Sinopec Fuel Oil is the fuel oil and bunkering arm of Sinopec Group. With the

vision to build a world-class integrated bunkering services provider and clean

energy supplier, Sinopec's current fuel supply capacity covers more than 40 key

ports domestically and overseas, supplying oil to more than 10,000 ships

annually around the world.

About Sinopec

Sinopec Corp. is one of the largest integrated energy and chemical companies in

China. Its principal operations include the exploration and production,

pipeline transportation and sale of petroleum and natural gas; the sale,

storage and transportation of petroleum products, petrochemical products, coal

chemical products, synthetic fibre, fertiliser and other chemical products; the

import and export, including an import and export agency business, of

petroleum, natural gas, petroleum products, petrochemical and chemical

products, and other commodities and technologies; and research, development and

application of technologies and information.

Sinopec sets 'fueling beautiful life' as its corporate mission, puts 'people,

responsibility, integrity, precision, innovation and win-win' as its corporate

core values, pursues strategies of value-orientation, innovation-driven

development, integrated resource allocation, open cooperation, and green and

low-carbon growth, and strives to achieve its corporate vision of building a

world leading energy and chemical company.

Logo - https://photos.prnasia.com/prnh/20190814/2551581-1LOGO

SOURCE: SINOPEC

Image Attachments Links:

Link: http://asianetnews.net/view-attachment?attach-id=361649

Caption: Sinopec Continues International Growth, Begins Oil Depot Operations at Sri

Lanka's Hambantota Port.