BP Singapore, China Aviation Oil sign jet fuel collaboration deal

12 October 2010 12:43  [Source: ICIS news]

SINGAPORE (ICIS)--BP Singapore and China Aviation Oil (Singapore) have signed a four-year business collaboration agreement related to jet fuel procurement for onward sale and supply to international markets, the companies said in a joint statement on Tuesday.

The agreement, which would take effect on 1 January 2011, builds on an existing business cooperation agreement (BCA) signed between the two parties in December 2005, the companies said.

Under the deal, CAO and BP said they would jointly manage a shared pool of jet fuel and gasoil supply business to destinations in the Middle East, Asia Pacific, including parts of China, and Europe.

"CAO and BP shall share the realised profits and/or realised losses generated from the shared pool equally," the companies said.

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By: Pearl Bantillo
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