To further expand overseas market and increase product oil export of the Company, from April 1^st to 4^th, vice president Mr. Nouraddin A. Yousuf led a group of 6 people from M&S Dept. and T&P Dept. to visit overseas product oil sales companies.

At UNIPEC Singapore Company (the UNIPEC Singapore), Mr. Nouraddin A. Yousuf exchanged opinions with Mr. Wang Yahang, general manager of UNIPEC Singapore. Mr. Nouraddin A. Yousuf expressed his gratitude to UNIPEC Singapore for their support to FREP's diesel export business, and looked forward to further strengthening exchanges and deepening cooperation. Mr. Wang Yahang briefed the overseas sales of product oil, market exploration and oil storage capacity of UNIPEC Singapore. He said that in faced with the increasingly fierce competition in Asia-Pacific, the two sides should play their strengthens and the synergy, put more efforts on cross-regional big ship export operation, and sell FREP’s product oil to the high demand markets in Europe and Australia and improve economics of export.

At Sinopec (Hong Kong) Aviation Fuel Co., Ltd. (Sinopec HK), the two sides conducted in-depth exchanges on jet fuel export cooperation in the past two years. Mr. Lin Xueyuan, general manager of Sinopec HK in charge of jet fuel business, introduced their jet fuel sales, medium and long-term sales strategy and jet fuel market capacity in Hong Kong. He commented that Sinopec HK was proactively looking for jet fuel co-loading opportunities to reduce the logistics cost for refineries. Mr. Nouraddin A. Yousuf fully affirmed the cooperation in improving export profit. Accompanied by Mr. Lin Xueyuan, Mr. Nouraddin A. Yousuf and his delegation visited the Tsing Yi Tank Farm of Sinopec HK.

In addition to a deep understanding of jet fuel and diesel export sales, the Company also consulted the demands of overseas market for other products, and explored export feasibility.

Through the visits, the Company deepened the understanding on the direction of exploring overseas markets of product oil, which would benefit further optimization of the products export sales strategy of the Company.

Since the Company started product oil export business in 2017, it has not only improved the profitability of the Company, but also effectively increased capacity utilization, and laid a solid foundation for high-quality development of the Company in the new era. (Yang Weihong, Wu Yongzhi)