Petroleum exchanges in three Chinese provinces have launched electronic trading platforms for oil products and the Beijing Petroleum Exchange plans to launch its platform by end-November, Xinhua news agency said in its fortnightly oil report published late Thursday.
Petroleum exchanges in three Chinese provinces have launched electronic
trading platforms for oil products and the Beijing Petroleum Exchange plans to
launch its platform by end-November, Xinhua news agency said in its fortnightly
oil report published late Thursday.
Shenzhen Petrochemical Exchange, a spot trading bourse in the Shenzhen province
of southern
China
,
introduced spot trading for gasoline and diesel earlier this month, and plans
to introduce methanol, liquefied natural gas and paraxylene later this year,
the report said.
Xiamen
Petroleum
Exchange
Center
in
the
Fujian
province in eastern
China
has
launched spot trading for gasoline, and the
Western
Trading
Center
of
the Shanghai Petroleum Exchange in
Xi'an
, in
the northwestern
Shaanxi
province, has launched electronic spot trading for oil products in partnership
with Shaanxi Yanchang Petroleum Group, it said.
Xinhua said the exchanges will compete and help create a benchmark for oil
product prices across
China
once
the government fully deregulates domestic oil prices.
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