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Unipec's Singapore oil trading head Zhang Nie resigns: sources

[SINGAPORE] Zhang Nie, the Singapore oil trading head of Chinese state trader Unipec has resigned from the company after working there for 10 years, industry sources said on Friday.

Mr Zhang, who is also the team leader of middle distillates for the company's global book, resigned last week for "family reasons" and will be with the company until the end of the year, one of the sources said.

A replacement for Mr Zhang, who has been trading head of Unipec Singapore for about five years, has not been identified yet, the sources said. Before joining Unipec, he was with its parent company Sinopec.

Unipec Singapore was not immediately available to comment.

Unipec's business mainly covers four areas, including trade in crude oil, oil products and liquefied natural gas (LNG) and warehousing and logistics, according to the company's website.

In 2011, Unipec's oil trading volume stood at 220 million tonnes with a total turnover of more than US$170 billion, the website said.