PetroChina, Mabanaft sign deal for European fuel supply

The partnership builds on their existing collaboration in aviation fuel marketing in the United Kingdom and will cover diesel, jet fuel, bio-aviation fuel, and logistics.

PetroChina International’s (PCI) London unit has signed a preliminary agreement with German energy company Mabanaft to expand the supply of Chinese refined fuel products to Europe.

The partnership aims to strengthen both companies' presence in northwest European markets, leveraging the Chinese state-owned company’s fuel supply capabilities and Mabanaft’s end-user network. The company revealed the news on its official WeChat platform, as reported by Reuters.

The cooperation covers diesel, jet fuel, bio-aviation fuel, and logistics, building on the companies’ existing collaboration in aviation fuel marketing in the United Kingdom.

PCI serves as the trading arm of PetroChina, China’s largest oil and gas company. The company was established in 2008 to carry out trade and asset operations, covering crude oil, refined products, natural gas, electricity, and carbon emission.

As part of this expansion, PetroChina International and INEOS established two joint ventures, PetroIneos Trading and PetroIneos Refining, the latter of which operates Grangemouth Refinery. currently the only refinery in Scotland.