Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

IF you are a Platts Market Center subscriber, to reset your password go to the�Platts Market Center to reset your password.

In this list

Shell wins license to trade oil products in China's domestic wholesale market

Agriculture | Grains | Thermal Coal | Natural Gas | LNG | Oil | Crude Oil | Shipping | Tankers

Market Movers Asia, Jan 21-25: China's GDP, oil market in focus


Platts Rigs and Drilling Analytical Report (RADAR)

Agriculture | Electric Power | Natural Gas (North American) | Oil | Metals | Petrochemicals

North American Digital Commodities Summit, 2nd Annual


China's state-owned refiners raise run rates to 85% in Jan

Shell wins license to trade oil products in China's domestic wholesale market

Singapore — China has awarded a license to oil major Shell to independently trade oil products in China's domestic wholesale oil market, a sign that Beijing is keen to attract more international participation in its oil sector.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Shell (Zhejiang) Petroleum Trading Co, a wholly-owned subsidiary of Shell China, has obtained the domestic oil product wholesale license from China's Ministry of Commerce, the company said in a statement Wednesday.

The license will enable Shell China's Zhejiang branch to carry out purchases and sales of oil products for its customers in the Chinese market, the company said.

"After obtaining the wholesale license for oil products, we will be able to provide better trading services to our customers," said Jacek Dziembaj, global head of Shell's trading and supply business department.

Kang Wu, head of Asia analytics at S&P Global Platts Analytics, said: "The wholesale business of refined products has long been dominated by Chinese national oil companies and is typically reserved for Chinese companies. The latest license to a wholly-owned foreign company is unique and set to increase the competitiveness of the wholesale market in China."

Shell currently has more than 1,300 retail stations in China through joint ventures and sole proprietorships, Shell said. It also has a joint venture with state-run China National Offshore Oil Corp to operate a large petrochemical complex capable of producing 2.2 million-2.3 million mt/year of ethylene in Huizhou City in southern Guangdong province.

"Shell will still have to buy oil products from Chinese oil suppliers for wholesaling in the domestic market as they don't have an oil product import license," said an oil trader in south China.

"But this could be an indication that China is showing goodwill towards foreign companies amid the ongoing US-China trade war," the trader added.

5 commodity themes to watch in 2019

As the curtain closes on 2018, what will be the 5 themes to watch in energy and commodity markets during 2019? Martin Fraenkel, President of S&P Global Platts, delivers his verdict.

Watch the video

Beijing is increasingly showing willingness to work with international companies in its oil sector.

CNOOC said in December that it had signed agreements with nine international oil companies, including oil majors, for offshore exploration in the Pearl River Mouth Basin in southern China.

The agreements were signed with US companies Chevron and ConocoPhillips, Norway's Equinor, Canada's Husky, Kuwait Foreign Petroleum Exploration Co (KUFPEC), Australia's Roc Oil, Shell, South Korea's SK Innovation and France's Total.

--Analysis by Cindy Liang,

--Sambit Mohanty,

--Edited by Alisdair Bowles,