You are currently viewing: News



21-10-2019

Total and Zhejiang Energy JV to develop the growing low sulfur marine fuel market

Total has signed a shareholders’ agreement with Chinese state-owned Zhejiang Energy Group (ZEG), to create a joint venture company dedicated to the supply and delivery of marine fuels in the region of Zhoushan, China.

The agreement, signed on the sidelines of the IPEC conference in Zhoushan, follows a Memorandum of Understanding concluded by Total and ZEG in April 2019 to explore opportunities in the supply and distribution of energy in China. Total China Investment (TCI) will hold a 49% share in the new company while Zhejiang Zheneng Petroleum New Energy (ZZPNE) will hold the remaining.

Zhoushan region covers both Ningbo and Shanghai ports, the busiest shipping hub in the world in terms of cargo tonnage.

By combining ZEG’s historical anchoring in the energy business in the region and Total’s longstanding expertise in the trading and marketing of international bunkers, the new company aims to actively contribute to the development of this fast growing market.

“This new partnership is fully aligned with our strategy to support and supply our shipping customers wherever they go.” declared Philippe Charleux, Senior Vice-President Lubricants & Specialties of Total. “Providing them with low sulphur fuels fully compliant with IMO regulation in China will further contribute to the transition towards a sustainable shipping industry.”

The creation of the new company ensures the continuity of Total’s business development strategy initiated almost 40 years ago in China.
Sponsor : 

Other News Items

Digital Reliability: 24/7 Real-time Machinery Diagnostics

(WEBINAR) - Join Dynamics SPC where we will discuss our turnkey solution we call COMPACS. COMPACS monitors the health of your equipment in real-time. We’ve spent ...

25-02-2020

How Russia will ensure the growth of global methanol production by 2030

New and existing methanol projects in Russia and the CIS have become one of the topics in focus at the 6th Conference on Gas Monetisation, which will be held on April ...

23-01-2020

European refineries are the least prepared as IMO 2020 regulations loom large

European refineries expect the largest impact from new IMO 2020 regulations, yet just 23% of these refineries are focussing on operational improvements targeting higher ...

21-01-2020

RefComm® Galveston 2020 will be held 11-15 May

RefComm® Galveston 2020 will be held May 11 - 15, 2020 at the Moody Gardens Hotel and Conference Center in Galveston, TX. This marks the 22nd year for the conference, ...

16-01-2020

Alfa Laval wins energy efficiency order

Alfa Laval, a world leader in heat transfer, centrifugal separation and fluid handling – has won an order to supply Alfa Laval Packinox heat exchangers to a petrochemical ...

14-01-2020

Motor Oil Hellas select TechnipFMC for new naphtha complex in Greece

TechnipFMC has been awarded a significant Engineering, Procurement and Construction management (EPCm) services contract for the construction of a new naphtha complex ...

09-01-2020

Canada Kuwait Petrochemical Corporation select Fluor

Fluor Corporation announced today that Heartland Canada Partners (HCP), Fluor’s 50/50 partnership with Kiewit Construction Services ULC, was awarded a contract ...

09-01-2020

INEOS Styrolution invests in ABS world-scale plant in China

INEOS Styrolution, the global leader in styrenics, has announced today plans to build a world-scale ABS plant in Ningbo, China. The new production site will be adjacent ...

09-01-2020

Yokogawa releases Exaquantum R3.20 plant information management system

Yokogawa Electric Corporation announces the release of Exaquantum™ R3.20, an enhanced version of its plant information management system (PIMS) software package ...

07-01-2020

Sempra LNG and Aramco Services Company sign Port Arthur agreement

Sempra Energy and Saudi Aramco today announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed an Interim Project Participation Agreement ...

06-01-2020