Petroleum trading platform launched

CNPC Xinjiang Sales Company and the Central Asia Commodity Exchange signed the Petroleum Online Trading Cooperation Agreement on Nov 18.

Karamay mayor Zhang Hongyan and Yue Zhonglin, general manager from CNPC Xinjiang Sales Company attended the signing ceremony and held a symposium.

As part of the agreement, CNPC Xinjiang Sales Company will conduct the trade of petroleum products through Central Asia Commodity Exchange's online trading platform. The platform is expected to be online on Nov 26. It aims to create a new sales mode for petroleum products.

Speaking at the symposium, Zhang said that the Central Asia Commodity Exchange has played a significant role in promoting Karamay's economic restructuring. She added that CNPC Xinjiang Sales Company has made a significant contribution to the local economic development. Cooperation between the two companies is expected to further the case for energy price reform. Zhang hoped that the Central Asia Commodity Exchange can take advantage of its information, finance and trading resources to construct a comprehensive petroleum products trading service.

According to Yue, the cooperation between CNPC Xinjiang Sales Company and the Central Asia Commodity Exchange is a big achievement in oil and gas system reforms. Yue hoped that wholesale dealers, gas station and customers will have a better communication through the new platform.

CNPC Xinjiang Sales Company and the Central Asia Commodity Exchange sign the Petroleum Online Trading Cooperation Agreement on Nov 18. [Photo/ts.cn]

Yue Zhonglin, general manager from CNPC Xinjiang Sales Company, delivers a speech at a signing ceremony of the Petroleum Online Trading Cooperation Agreement. [Photo/ts.cn]

Karamay mayor Zhang Hongyan delivers a speech at a signing ceremony of the Petroleum Online Trading Cooperation Agreement. [Photo/ts.cn]