China aviation fuel giant set for restructuring, unit says
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China National Aviation Fuel Group, the leading jet fuel distributor in China, is set to undergo a corporate restructuring with another conglomerate, as announced by its Singapore-listed subsidiary, China Aviation Oil (Singapore). The restructuring is pending further procedures and approvals. Despite a decline in gasoline and diesel demand, aviation fuel demand continues to grow due to increased passenger and cargo traffic. This follows China's last major consolidation in the oil sector in 2021, which merged Sinochem Group and China National Chemical Corp.
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