---
title: "MOVES-Former veteran Sinopec executive to lead Singapore firm's crude oil trading, sources say"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/273507722.md"
description: "A former Sinopec executive, Simon Chen, has joined Singapore-based Sino Crown International to lead its crude oil trading operations. Chen, who previously served as president of Sinopec's trading arm Unipec, aims to expand Sino Crown's trading portfolio, which currently includes metals and fuel oil. His appointment follows a career in crude oil trading, and he brings significant experience to the role after leaving Unipec in late 2018 due to trading losses attributed to inappropriate strategies."
datetime: "2026-01-23T11:16:43.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/273507722.md)
  - [en](https://longbridge.com/en/news/273507722.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/273507722.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/273507722.md) | [繁體中文](https://longbridge.com/zh-HK/news/273507722.md)


# MOVES-Former veteran Sinopec executive to lead Singapore firm's crude oil trading, sources say

SINGAPORE, Jan 23 (Reuters) - A former trading executive with Chinese refining giant Sinopec has joined Singapore-based commodities firm Sino Crown International to build and lead its crude oil trading, two industry sources with knowledge of the hire said.

Simon Chen, or Chen Bo, who was president of Sinopec’s trading vehicle Unipec until late 2018, joined the Singapore firm in November, said the two people.

Chen did not immediately respond to a request for comment.

Sino Crown is a unit of Zheshang Development Group (000906.SZ) , an east China-based commodities firm controlled by state-run Zhejiang Communications Investment Group.

It trades metals and fuel oil, and is expanding into crude oil trading, said one of the sources who has direct knowledge of the company’s operations.

Chen, a career crude oil trader in his early 60s, joined Unipec in the early 1990s and became its president in 2014.

He was suspended in late 2018 after Unipec incurred record derivatives trading losses which Sinopec blamed on “inappropriate trading strategies”, Reuters reported at the time.

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