An oil tanker, Southernpec 11, cruised out of the Irrawaddy River on the evening of May 25, signaling that the first shipload of Zhenhua Oil’s diesel, which weighed 5,000 tons, had been successfully delivered to Wanbao Mining’s copper mine project in Letpadaung, Myanmar.
The project is an exemplar of Belt and Road cooperation. So when Zhenhua Oil received its bidding notice at the 2017 Spring Festival, the staff gave a careful study of the market and arranged for supplies, finally beating a dozen local and international rivals and winning the bid.
When the oil tanker arrived, Zhenhua dispatched employees to the port, who embarked on the vessel with people in charge of the Myawaddy project as well as local customs and inspection officials to supervise and ensure successful diesel delivery.
In addition to providing diesel to Wanbao, Zhenhua Oil will actively develop Myanmar’s refined oil market. The company will fully utilize the collaboration among different nodes in the local system as well as advantage in international markets to deepen its business. The move will help expand overseas sales network for Norinco Group’s refineries and enhance Zhenhua Oil’s ability to achieve collaboration with them.