Sinopec Enters Thailand's Refined Oil Market

Sinopec (Hong Kong) Co., Ltd. signed an equity purchase agreement with Thailand’s Susco Refined Oil and Jet Fuel Sales Company to acquire 49% of its wholly-owned subsidiary, Susco Dealers Company Limited. Expand the terminal market of refined oil products in Thailand.

Sinopec has always adhered to the strategy of international operation, giving full play to the advantages of integration and actively exploring the international oil market. Susco is a well-known oil product sales company in Thailand. Its business scope covers refined oil sales, international trade of refined oil products, jet fuel sales, and CNG/LPG filling, etc. The cooperation between the two parties will give full play to Sinopec's resources, brand advantages and Susco's network advantages to further expand the terminal network scale, continuously increase the sales of refined oil products, actively explore new energy and low-carbon environmental protection related businesses, and jointly develop refined oil products in Thailand and Southeast Asia and new energy markets.