20 November 2013 07:08 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shanghai International Energy Trading Centre Co Ltd in Shanghai is expected to be launched on 22 November, a source close to the company said on Wednesday.
Shanghai international energy trading centre, a wholly-owned subsidiary of the Shanghai Futures Exchange (SHFE), will be located at the China (Shanghai) pilot free trade zone, the source said.
The launch of the trading center is good progress in the preparation for oil futures, according to the source.
Most regional refineries welcomed the launch of oil futures, and they expect that it would launch in the first or second quarter of next year, industry sources said.
The launch of oil futures would benefit China as it will have some impact on the oil price in the international market, as well as bring more opportunities for the free trade zone in the energy industry, the sources added.
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