China’s Sinopec buys 49% of Thai oil retailer Susco Dealer
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
CHINESE state refiner Sinopec said on Thursday (Dec 29) its Hongkong subsidiary has acquired a 49 per cent stake in Thailand’s Susco Dealers to expand fuel retail business there.
The investment by Sinopec Hongkong combines the Chinese refiner’s fuel supply base and its brand with the Thai company’s retail network, Sinopec said in a statement, without providing the size of the investment.
The joint venture will also explore developing into low-carbon and new energy business such as electric vehicles, hydrogen fuel and biofuels, it added.
Sinopec Hongkong supplies and trades refined fuel products in Hongkong and nearby Asia-Pacific markets.
A unit of fuel wholesaler and retailer Susco Public, Susco Dealer specialises in supplying fuel in the Thai capital Bangkok, including jet fuel refuelling at its main airports. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
