Southernpec Explained

Southernpec (Southern Petrochemical) is a Chinese oil and shipping company. Sinopec is a minority shareholder.[1]

Souternpec transports and stores oil products using its ships. The company acquired its first VLCC in 2009.[2]

Its Wing Wah subsidiary developed and operates the Banga Kayo oil field in the Republic of Congo, expected to reach a maximum production of 50,000 barrels per day.[3] The Banga Kayo oil field is one of the projects credited with rejuvenating oil production in the Republic of Congo, which had been in decline before 2016.[3] [4] [5]

Notes and References

  1. News: Southernpec floats third tank . Tank Storage . October 19, 2010.
  2. News: Chinese eye VLs . TradeWinds . July 7, 2009.
  3. News: Congo Republic's Banga Kayo oilfield to produce 50,000 bpd by year end . https://web.archive.org/web/20190212153430/https://af.reuters.com/article/investingNews/idAFKBN18K0SH-OZABS . dead . February 12, 2019 . Reuters . May 24, 2017.
  4. News: Smith . Elie . OPEC's Newest Member May Boost Output as Much as 65% This Year . Bloomberg . June 25, 2018.
  5. News: Oil production stages unlikely comeback in Congo Republic . Reuters . June 9, 2017.

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