Shanghai International Energy Exchange has released its Notice on Approving Sinopec Fuel Oil Sales Co.,Ltd. as Group Delivery Center, Sinopec Zhejiang Zhoushan Petroleum Co., Ltd. as Group Delivery Factory, and Sinopec Fuel Oil (Singapore) Pte.Ltd. as Overseas Commodity Storage Facility for Low Sulfur Fuel Oil (LSFO) Futures as follows:

       In accordance with applicable provisions of the Delivery Rules of the Shanghai International Energy Exchange and the Group Delivery Rules of the Shanghai International Energy Exchange and relevant business rules, Shanghai International Energy Exchange (“the Exchange”) has approved Sinopec Fuel Oil Sales Co.,Ltd. as Group Delivery Center, Sinopec Zhejiang Zhoushan Petroleum Co., Ltd. as Group Delivery Factory, and Sinopec Fuel Oil (Singapore) Pte.Ltd. as Overseas Commodity Storage Facility for Low Sulfur Fuel Oil (LSFO) Futures.

       1. The approved storage capacity of the Group Delivery Factory is 80,000 tons, and the active storage capacity is 40,000 tons. The Exchange will closely track and review market developments, and timely adjust the storage capacity for LSFO futures. The Group Delivery Center shall release the benchmark premiums and discounts for overseas take-delivery on the Exchange’s website in accordance with applicable rules. There is no premium/discount for deliveries made within the Chinese Mainland.
       2. As of the date of this Announcement, the Group Delivery Center and Group Delivery Factory and Commodity Storage Facility as mentioned above shall conduct group delivery services in accordance with all relevant rules. The LSFO commodity shall be loaded out in a month after its relevant factory standard warrants are written off in the Standard Warrant Management System of the Exchange.

       Attachment: Business Contact Form of the Group Delivery Facilities of the LSFO Futures

Shanghai International Energy Exchange
January 28, 2022