CEFC and Dyneff enter diesel supply agreement

CEFC International Limited has successfully won the tender to supply diesel to Dyneff SAS. Pursuant to the successful tender, the company has signed a diesel supply agreement with Dyneff.

Under the agreement, CEFC International, through its wholly-owned subsidiary, Singapore CEFC Petrochemical & Energy Pte., Ltd will sell diesel to Dyneff with a total amount of 800 000 t to 900 000 t for a one year period between 1 January 2016 and 31 December 2016.

Dyneff is one of the leading independent fuel distributors in France and it has business operations in both France and Spain. Dyneff offers a full choice of motor fuels, biofuels, heating fuels, supplementary products and services that fulfil all the market requirements. Dyneff has played an active role in the fuel distribution sector for more than 50 years and covers three distribution channels: filling stations, a network of commercial agencies, and two wholesale agencies. Meanwhile, Dyneff also has a large-scale logistics infrastructure in both France and Spain, with strategic capabilities at the main Mediterranean and Atlantic ports.

CEFC Shanghai International Group Limited, with which Singapore CEFC Petrochemical & Energy Pte., Ltd entered into a framework cooperation agreement in September 2015, agreed to purchase 51% stake in Rompetrol France SAS, the parent company of Dyneff. Leveraging on the status as CEFC Shanghai's exclusive overseas procurement and supply platform, CEFC International participated in the bidding process of Dyneff and won the tender at the best price.

Adapted from press release by Rosalie Starling

Read the article online at: https://www.hydrocarbonengineering.com/refining/18012016/diesel-supply-agreement-2174/