Chinaoil Singapore appoints new head of crude trading after Zhang resigns: sources
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[SINGAPORE] Chinaoil Singapore, the trading arm of Chinese oil giant PetroChina, has appointed a new head of crude trading after former head Zhang Yufeng resigned, people with knowledge of the matter told Reuters.
Li Henan has taken over as the head of crude trading, the sources said. Chinaoil also plans to transfer senior trader Yue Zan from Beijing to its Singapore office soon, they said. It was not immediately clear what Zhang's next role might be.
The people with knowledge of the matter declined to be named due to its sensitivity.
PetroChina did not immediately respond to a request for comment, while Zhang and Li could not be immediately reached for comment.
Chinaoil's team in Singapore buys crude for PetroChina's Singapore refinery and trades Middle East, Russian and Asia-Pacific crude grades.
The team under Zhang has made waves in Asia's crude markets, including the biggest-ever purchase during S&P Global Platts' Market on Close process in 2015 that saw China's 2 largest state trading companies pitted against each other.
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REUTERS
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