Oil-related AssetsCAO aims to build up an integrated value chain through acquisitions or investments in synergetic oil-related assets.
Shanghai Pudong International Airport Aviation Fuel Supply Company Ltd ("SPIA")
CAO owns a 33% stake in SPIA, the sole supplier of jet fuel for the second largest airport in the PRC – Shanghai Pudong International Airport ("Pudong Airport"). Formed in 1997, SPIA's business includes the procurement, sales, transportation, storage and refuelling of jet fuel. SPIA provides jet fuel sales and refuelling services to more than 80 domestic and foreign airlines operating at Pudong Airport.
SPIA owns and operates all refuelling facilities at Pudong Airport, which include a full suite of hydrant systems, fuel-pumping trucks, fuel pumps, oil storage facilities within the airport and at the jetty, and a 42 km-long pipeline connecting Pudong Airport to Shanghai Waigaoqiao Port.
The other two shareholders of SPIA are Shanghai International Airport Co., Ltd (40%) and Sinopec Shanghai Gaoqiao Company (27%).
China National Aviation Fuel TSN-PEK Pipeline Transportation Corporation Ltd ("TSN-PEKCL")
TSN-PEKCL is in the business of providing logistics and storage services for the jet fuel requirements of Beijing Capital International Airport ("Beijing Airport) and Tianjin Binhai International Airport ("Tianjin Airport"). TSN-PEKCL's key asset is a 185 km-long multi-oil product pipeline running from Tianjin Nanjiang Port to Beijing Airport, which is the longest multi-oil product pipeline with the largest pipe diameter and the highest transfer volume in the PRC aviation industry. The pipeline supplies about 90% of Beijing Airport's total jet fuel requirements and about 40% of Tianjin Airport's jet fuel requirements.
CAO owns 49% of TSN-PEKCL, with the remaining equity stake held by China National Aviation Fuel Logistics Co.,Ltd.
China Aviation Oil Xinyuan Petrochemicals Co. Ltd ("Xinyuan")
Incorporated in 2004, Xinyuan provides storage services and trades in jet fuel and other oil products. Xinyuan owns the Shuidong storage tank farm with a total capacity of 50,000 cubic metres, near the Shuidong harbour in the city of Maoming in Guangdong province, PRC.
CAO owns a 39% equity stake in Xinyuan, with the remaining stake held by Shenzhen Juzhengyuan Petrochemical Co. Ltd (60%) and China National Aviation Fuel Group Corporation (1%).
Oilhub Korea Yeosu Co., Ltd ("OKYC")
OKYC operates the largest commercial oil storage facility in Korea, which is located in Yeosu. Strategically located near the refinery of GS Caltex, OKYC's storage terminal comprises 36 storage tanks with sizes ranging from 6,000 cubic metres to 80,000 cubic metres and a total capacity of 1.3 million cubic metres. The terminal is capable of handling crude oil and the full range of refined petroleum products and offers a wide range of value-added services with its state-of-the-art heating and blending systems. The terminal has 4 berths with a draft of 17.7 metres and capacities ranging between 10,000 to 200,000 dead-weight tonnage (DWT). It is able to access the adjacent 325,000 DWT very-large crude carrier (VLCC) jetty owned by Korea National Oil Corporation ("KNOC").
CAO is the second largest shareholder (26%) of OKYC after KNOC, which holds 29% of total issued shares of OKYC. Other shareholders include SK Energy Co., Ltd., GS Caltex Corporation, Samsung C&T Corporation, LG International Corp and Seoul Line Corporation.
CNAF Hong Kong Refuelling Limited (“CNAF HKR”)
As one of three licensed into-plane refuellers at Hong Kong International Airport, CNAF HKR will provide fuelling and de-fuelling services to international airlines at one of the world’s leading aviation hubs.
Located near Hong Kong International Airport at Chek Lap Kok, CNAF HKR is equipped with state-of-the-art fuelling facilities including Euro V-compliant fuelling trucks as well as a comprehensive fuelling management system. The on-site refueling facility also has an administration building and operations control office to provide round-the-clock into-plane fuelling services.
CAO’s wholly owned subsidiary, China Aviation Oil (Hong Kong) Company Limited (“CAO HK”), owns a 39% stake in CNAF HKR, with other shareholders, Shenzhen Cheng Yuan Aviation Oil Company, China United Petroleum (Holding Company Limited and Cheer Luck Investment Limited holding equity stakes of 37%, 14% and 10% respectively.
Aircraft Fuel Supply B.V. (“AFS”)
AFS is a company incorporated in the Netherlands which holds the concession from the Schiphol Airport Authority to manage the storage and distribution of jet fuel on behalf of its shareholders to airlines at Amsterdam Airport Schiphol. CAO holds 14.29% of AFS’s issued ordinary shares while the other shareholders include major airlines companies and several oil majors.