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In 2021, China became the world’s No 1 country in oil refining, accounting for 18% of the world’s total refining capacity. The total export volume of petroleum products from China reached 40,310,000 tons in 2021.
Zhejiang Petrochemical has a 16 million tons/ year production capacity of petroleum products. ZP has been given the mandate to carry out the sales and allocation of Zhejiang Petrochemical’s petroleum products.
ZP is a pioneer in the integrated energy service station project in China. By the end of June 2022, ZP has built 214 service stations that offer refueling services in oil, gas, electricity and hydrogen.
Glencore has approximately 4000 oil stations worldwide and its organic petroleum products demand is about 25 million tons per year.