(EnergyAsia, November 26 2012, Monday) — Longwei Petroleum Investment Holding Ltd, a NYSE-listed company engaged in the storage, distribution and retail sales of oil products in China, said it has secured sales agreement for its Huajie terminal as well as completed scheduled maintenance and plant upgrades at the Gujiao terminal, both in Shanxi province.
The Taiyuan city, Shanxi-based company said it signed agreements with seven major customers, taking the total for the 100,000-metric ton (mt) Huajie terminal to 16 new customers since its start-up in early October.
The 70,000-mt Gujiao terminal, started up in November 2009, accounted for US$233.8 million in sales last year.
Longwei Petroluem’s other terminal in Shanxi, located in Taiyuan city, stores up to 50,000 mt.
Cai Yongjun, Longwei’s chairman and CEO, said:
“We have a very good safety record over our 17-year operating history, and we have maintained strong, long-standing working relationships with industry regulators and local government officials.”
The company said its wholly-owned operating subsidiary, Taiyuan Longwei Economy & Trading Co, was one of 15 companies in Taiyuan City and one of only 140 companies in Shanxi Province recognised on February 15, 2012 as honourable and credible in honouring its contractual obligations with customers.
“We have worked hard to build a good reputation for the company. The management team and all of our employees labor diligently to service our customers and the community for the betterment of our surrounding region,” said Mr Cai.