Others News
- CAO, CNPC sign fuel transport deal
Date: 19-Apr-2007 Sources: (Shenzhen Daily)
CHINA National Petroleum Corp. (CNPC) said Tuesday its transportation unit last week signed a service agreement with jet fuel distributor China Aviation Oil (CAO) Holding Co. on transporting its jet fuel shipments by road.
CAO Holding intends to reduce its logistics costs and sharpen its international competitive edge by partnering with CNPC, said CNPC in a statement on its Web site. CNPC's transportation unit has more than 8,000 vehicles for transporting a combined 100,000 tons of oil products a day, said CNPC. CAO Holding, the country's monopoly for jet fuel distribution, has been facing increasing pressure from the General Administration of Civil Aviation, the aviation industry's supervisory body, to cut costs in order to reduce the burden on airline companies.
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