On March 28^th, Mr. Cui Guanglei, Deputy Director of Sinopec Refining Department, led a group and visited FREP. Vice President Mr. Nouraddin A. Yousuf had a meeting with Mr. Cui Guanglei and his delegation. Both parties had a friendly discussion. The meeting was accompanied by Mr. Lin Xu, General Manager of M&S Dept. and Mr. Zhao Tianxing, General Manager of Process Dept.

Vice President Mr. Nouraddin A. Yousuf expressed his warm welcome to Mr. Cui Guanglei and his delegation. He expressed thanks to Sinopec’s long time care and support to the development of FREP. He also supported and appreciated the prospective win-win cooperation model proposed by Mr. Guanglei. He pointed out that amid this downside situation that product oil sales is experiencing, FREP is seeking for new development opportunity, hence support and help from shareholder Sinopec is greatly expected, and we hope to expand the areas of future cooperation by leveraging on both parties’ complementary advantages to achieve common growth in a sustainable way. 

Mr. Cui Guanglei commented that as one of FREP’s shareholders, Sinopec always pay attention to the business growth of FREP. In a market where competition is getting more fierce, Sinopec and its subsidiaries feel the obligation to engage in the day-to-day operation of its JVs and develop profound optimization and cooperation by leveraging on both parties’ advantages in terms of resources, information, secured supply of product feedstock, product sales and logistics to expand product distribution channels and increase each other’s profit margin and profitability in a bid to achieve a win-win result and harmonious development.

Mr. Cui Guanglei and his delegation, accompanied by Mr. Lin Xu, General Manager of M&S Dept. and other management of FREP, also visited FREP’s Exhibition Hall and the site with great interest. (by Zhang Pengfei)