JTF International Unit Signs Oil Trading Partnership With Zhuhai Huafeng; Shares Rise 3%

MT Newswires Live

Mar 16

JTF International (HKG:9689) said its subsidiary has signed a cooperation framework agreement with Zhuhai Huafeng Petrochemical to form a partnership in oil and petrochemical trading, according to a March 13 Hong Kong bourse filing.

Shares of the petrochemical company were up over 3% in Monday afternoon trade.

Under the deal, JTF (PRC) is expected to purchase about 200,000 tonnes of gasoline, diesel, and other fuel products annually from Zhuhai Huafeng.

JTF (PRC) will also supply naphtha and C6 components for gasoline blending to Zhuhai Huafeng, in principle, about 200,000 tonnes of each product per year.

Separate agreements will be signed for specific transactions following further negotiations, the company said.

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