Benckiser Roth (www.benckiser-roth.com), a leading commodity markets broker and provider of post trade risk mitigation and information services, today announced the investment of up to USD13 million into a significant equity stake (up to approx. 35%) in a Shanghai oil refinery. In addition to acquiring an equity stake, Benckiser Roth will invest a further USD12 million into the construction of extensive storage facilities and associated infrastructure at the refinery’s site.
Benckiser Roth’s investment in the refinery is the first of its kind for the company, enabling it to create operational efficiencies and to add value to its customers’ supply chains. Geographically, the facility is well positioned to receive crude oil from Benckiser Roth’s international producer partners. The investment also affords the company the ability to participate in China’s domestic market where rising incomes, higher vehicle sales and rapid urbanisation are driving the country’s position as one of the world’s fastest-growing major economies.
The location of the refinery, on the east coast of China, provides numerous strategic advantages including the ability to receive Very Large Crude Carriers (VLCCs) via a single point mooring. It is also well-positioned to meet the needs of the State of Tamil Nadu which currently has a shortfall in the supply of clean petroleum products.
Richard Man-kuen, CEO for Benckiser Roth said: “This is an important, long-term venture for Benckiser Roth and is an exciting project for all concerned. It plays directly to the strengths of Shanghai as a leading process operator and to Benckiser Roth as a company committed to balancing international supply and demand for oil products.
About Benckiser Roth
Benckiser Roth (www.benckiser-roth.com) is a professional commodity broker. The company’s mission is to provide investors with consistent profits, while managing risk. In pursuit of this mission, the firm pledges to operate transparently, with a dedication to the highest ethical and regulatory standards in the business. Benckiser Roth adapts the products and services to meet the customers’ unique requirements. As an Introducing Broker handling all commodities, futures and options on futures contracts traded on all the major futures exchanges, the firm provides an unparalleled level of service, both personally and electronically, to sustain the long-term successful business relationships.
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