OREANDA-NEWS. January 29, 2014. Mr. Zhang Zhiyin, Vice President of Sinochem Group and Director of Petroleum Center, attended the inauguration ceremony of China Petroleum Dealers Association.

A total of 121 member units, 50 executive member units and 20 vice chairman units were selected. Sinochem Oil was named among one of the 20 vice chairman units.

China Petroleum Dealers Association was jointly initiated by 16 units including state-owned enterprises like PetroChina, Sinopec, Sinochem as well as private enterprises, foreign-funded enterprises, and local petroleum dealers associations. Its member units are players from petroleum circulation sector with business covering wholesales, storage, retails of crude oil, refined oil, fuel oil, and etc.

In his address delivered on the ceremony, Mr. Fang Aiqing, Vice Minister of the Ministry of Commerce noted that there were 1,250,000 practitioners and 110,000 enterprises involved in petroleum circulation sector; and the establishment of the Association would play a significant role in pushing ahead the reform and regulated development of petroleum circulation sector.