Mercuria Energy Trading will further invest a minority stake in ChemChina’s onshore refining system. This will provide Mercuria with crude supply and greater access to the domestic refining market in China.
ChemChina will increase its strategic investment in Mercuria with a greater minority stake while Mercuria will increase its participation in ChemChina’s overseas trading operations.
Once completed, this transaction will build upon the initial investment in Mercuria that ChemChina made in 2016.
Details of the transaction will be completed in 2018.