Petroval News

Main board-listed Chemoil has appointed Soh Guan Tin Colin as Trading Manager in . Colin brings over ten years of trading experience and a solid network of market contacts in Asia and the . Prior to joining Chemoil, he spent five years as an oil products trader with Petroval Pte Ltd, a bulk oil trading and transportation company that specializes in high viscosity marine fuels. During this time, Colin was responsible for marketing Petroval’s M100 barrels into and was among one of the first traders to sell directly to the straight-run market. Further to trading a range of other petroleum products, he also cultivated strong relationships with Russian and Chinese market players whilst in this role.

In line with its strategic plan to get closer to certain end user markets, Geneva based Petroval has concluded a long term contract for storage of fuel oil with Vopak at their Europoort site, commencing in the second quarter of 2004. Petroval will break bulk and re-deliver products, which are refined at Russian refineries as well as in Lithuania, directly into the Rotterdam bunker market. Petroval is an oil trading company specializing in the marketing and sales of crude oil and refined oil products originating mainly from the Russian Federation. The company through commercial contracts handles most of the international exports of products refined by Yukos Oil Company.