(EnergyAsia, May 17) — Singapore-listed China Aviation Oil Corporation Ltd (CAO) said its first quarter net profit jumped sharply to S$342.25 million from S$11.22 million a year earlier due to a one-off waiver of debts. (US$1=S$1.56).             The company emerged from restructuring after collapsing from substantial trading lossess of more than US$550 million incurred in…