Brunei Shell Petroleum (BSP) and Brunei Shell Marketing (BSM) have included Hengyi Industries (Hengyi) into its domestic fuel distribution chain, which was signified via official agreements signed at the Empire Hotel and Country Club today.
The agreements will see BSP sending its crude oil to Hengyi to be refined using its facilities at Pulau Muara Besar before passing them to BSM for local distribution.
This new business arrangement is expected to further support downstream retail and industrial developments in the country, besides allowing the firms to meet domestic product demands.
BSP also added that the partnership signed signaled a step forward for Brunei’s journey on diversifying its energy sector and export mix, while also establishing an international presence in the global refinery market.
The business arrangements will also see Brunei’s fuel products shifting to a more advanced and environmentally friendly specification by 2020.
Signatories at today’s signing ceremony include BSP’s Acting Managing Director Yap Kong Fah, BSM’s Managing Director Pg Dato Paduka Hj Mustapha and Hengyi’s CEO Chen Lian Cai.
Present to witness the signing was the second Minister of Finance and Economy Yang Berhormat Dato Seri Setia Dr Hj Mohd Amin Liew Abdullah.
The Bruneian | BANDAR SERI BEGAWAN