JTF International said its indirect subsidiary JTF (PRC) has signed a cooperation framework agreement with Zhuhai Huafeng to form a strategic partnership for oil and petrochemical product sales and supply. Under the framework, JTF (PRC) will in principle purchase a combined 200,000 tons per year of gasoline, diesel and other products from Zhuhai Huafeng. JTF (PRC) will also in principle supply Zhuhai Huafeng with 200,000 tons per year of naphtha and 200,000 tons per year of C6 components for gasoline blending. The parties said specific purchase and sales terms will be set out in separate agreements.
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