China's private refiners hire new executives for Singapore desks
(Reuters) - Private Chinese oil refiner and petrochemical manufacturers Hengli Petrochemical Corp and Rongsheng Petrochemical Corp have each hired a new executive for its Singapore trading desk, company officials said.
Hengli Petrochemical (Singapore) Pte Ltd, the trading unit for Hengli Petrochemical, hired James Zhang, formerly a commodities trading manager at ICBC Standard Bank, as its vice president in charge of finances, a company spokesman said.
Zhang started early this month, the spokesman said.
Separately, Zhu Yanyu, previously a veteran oil products trading manager at state-owned oil and gas company PetroChina , started in June at Rongsheng Petrochemical (Singapore) Pte Ltd as a deputy general manager in charge of refined products trading, said two company officials.
The Singapore operation is the international trading unit for Rongsheng Petrochemical Corp, which is a key stakeholder in Zhejiang Petrochemical Corp (ZPC), one of China's largest private refiners which operates a 400,000 barrels per day refinery in east China's Zhoushan.
ZPC became the first private Chinese refiner to win Chinese government quotas to export low-sulphur marine fuel in April, and in July the firm was granted a license to export other refined products.
(Reporting by Chen Aizhu and Shu Zhang; Editing by Christian Schmollinger)
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