Yue Hai (Panyu) Petroleum & Chemical Storage, Transportation and Development Co,Ltd, Guangdong Nan Hua Petroleum Co,Ltd, Guangzhou Development BP Oil Products Co,Ltd, Zhuhai CHIMBUSCO Co,Ltd, China Petroleum Fuel Oil Co,Ltd were designated by SHFE as its delivery warehouses for the fuel oil contract to be listed.

"Guangdong and its neibouring regions are places with the concentration of fuel oil consumption, transportation and distribution," said Mr. Peng Junheng, deputy CEO of SHFE, when talking on the designation," so they play a significant role in China’s fuel oil market. When the futures market matures to a certain level, the exchange will consider expanding it to East China and the other regions."

Better services, quality and risk control are the priority of warehouses, Peng said.

Meanwhile, China Testing & Qualification Group Guangdong Co,Ltd and SGS-CSTC were named as the official testing agencies.