The parent company of China Aviation will implement a restructuring with Sinopec Corp. | Lianhe Zaobao

The parent company of China Aviation Oil (Singapore) Corporation Ltd (referred to as China Aviation Oil), which is listed on the main board of the Singapore Exchange, China National Aviation Fuel Group Limited, has been approved to merge with China Petrochemical Corporation (Sinopec). China Aviation Oil disclosed on Thursday (January 8) that it received a notification from its parent company on January 8, stating that after consideration by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and approval from the State Council, the restructuring of China Petrochemical Corporation and China National Aviation Fuel Group will be implemented. Xinhua News Agency also reported on Thursday that SASAC announced that this restructuring has been approved by the State Council. China National Aviation Fuel Group is the largest aviation fuel procurement, transportation, storage, testing, sales, and refueling service guarantee enterprise in Asia, with its main business involving five major sectors: aviation fuel, petroleum, logistics, international, and general aviation. China Petrochemical Corporation is the world's largest refining company and China's largest aviation fuel producer. This Fortune Global 500 company operates in Singapore, including petrochemical product trading, ship refueling, and the sale of refined oil and chemical products. It also operates gas stations in Yishun and Bukit Timah. The merger plan between the two companies was first reported in November 2025. It is said to be aimed at addressing international competition and green transformation. Further Reading Venezuela's situation changes suddenly, Chinese oil companies seek guidance from Beijing PetroChina General Manager Hou Qijun appointed Chairman of Sinopec Bloomberg previously reported, citing sources, that if the merger is successful, China Petrochemical Corporation is expected to absorb all assets and businesses of China National Aviation Fuel Group. China Aviation Oil stated on Thursday that this restructuring still requires further approval and completion of filing procedures in accordance with applicable regulations. It is expected that the restructuring will not have any significant impact on the normal business operations of China Aviation Oil and its subsidiaries. China National Aviation Fuel Group currently holds a 51.31% stake in China Aviation Oil (excluding treasury shares) The board of directors of China Aviation stated that the company will continue to closely monitor the progress related to the restructuring and will fulfill its information disclosure obligations at the appropriate time. It added that the restructuring plan may be subject to changes. Due to uncertainties, investors are advised to be aware of the inherent risks. China Aviation's stock price closed flat at 1.65 yuan on Thursday