For information on UK immigration and UK economy: China Aviation Oil (Singapore) Corporation Ltd. (referred to as China Aviation Oil) announced on the 28th that it has established a wholly-owned subsidiary in the United Kingdom—China Aviation Oil (Europe) Ltd.—to expand its European business.
China Aviation Oil's European subsidiary has a registered capital of 3 million USD, with its main business focusing on the trading of petroleum products and aviation marketing. In addition to providing fuel supply and trade, it will also offer refueling services for airlines at designated airports in Europe, leading the continued development of the company's existing aviation marketing business. China Aviation Oil stated that the expansion and development of its aviation marketing business in Europe will not only create synergies with the company's existing trading operations but also enhance the overall trading activities of the company.
The announcement stated that on one hand, European refineries are closing due to aging and reduced cost efficiency, leading the European market to increasingly rely on imports; on the other hand, the supply of aviation fuel in the Asia-Pacific region continues to grow. Therefore, the newly established European subsidiary may play an important bridging role between the supply market in the Asia-Pacific region and the consumption market in Europe. "The group's business in Europe is highly synergistic with its position as the largest physical supplier and trader of aviation fuel in the Asia-Pacific region," the announcement said.
At the same time, by expanding its business in Europe, China Aviation Oil can open up the North American and Middle Eastern markets through cross-regional trading, optimizing global supply and trading activities, and seizing more cross-regional arbitrage opportunities through WorldWays in the Asia-Pacific and Europe.
China Aviation Oil's CEO, Meng Fanqiu, stated that the company has focused on the Asia-Pacific market in recent years, establishing a leading market position in the supply of physical aviation fuel. As part of the company's strategy for 2020, China Aviation Oil will expand beyond the Asia-Pacific market, and the establishment of the European office is a key step in building a WorldWay.
At the beginning of last year, China Aviation Oil acquired a wholly-owned subsidiary—North America Aviation Ltd.—to develop marketing operations in the United States.
China Aviation Oil is a subsidiary of China National Aviation Fuel Group Company and is listed on the main board of the Singapore Stock Exchange. It is one of the major suppliers of aviation fuel in the Asia-Pacific region and a key importer of aviation fuel for China's civil aviation industry.
