CMET, Rongsheng latest China oil traders to open offices in Singapore

Singapore

DANCING lions that jumped to deafening drum beats marked the opening of one of two new Chinese trading companies in Asia's oil hub of Singapore last week, a sign of the increasing reach of China's energy sector.

While guests at China Merchants Energy Trading (CMET) watched the dance, those at Zhejiang Rongsheng lunched on catering from the Ritz-Carlton hotel as the companies timed their office openings with the industry's biggest regional meeting, the Asia Pacific Petroleum Conference (APPEC).