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This is to acknowledge our receipt of the application of Sinopec Petroleum Reserve Co., Ltd to increase the active storage capacity for crude oil futures. In accordance with the Delivery Rules of the Shanghai International Energy Exchange and other applicable rules, we hereby issue the following response based on inspection and review results:

We approve the active storage capacity of Sinopec Petroleum Reserve Co., Ltd, located on Cezi Island, Zhoushan, Zhejiang Province, to be increased from 600,000 m3 to 700,000 m3, with an approved storage capacity of 800,000 m3.

As of the date of this notice, Sinopec Petroleum Reserve Co., Ltd shall offer Designated Delivery Storage Facility services within the increased active storage capacity, strictly abide by all relevant rules, strengthen operation management, and ensure the sound functioning of such services.

 

Shanghai International Energy Exchange Co., Ltd.

May 12, 2020

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