<div id="readability-page-1"><div><p>[SINGAPORE] Shares of  China Aviation Oil  (CAO) surged by more than 4 per cent on Tuesday (Nov 4) morning following word of a merger between Sinopec, the largest oil refiner in China, and China National Aviation Fuel (CNAF).</p><p>As at 9.28 am, the counter reached S$1.61 on the Singapore Exchange, up by around 4.5 per cent. By 10.03 am, it had eased to S$1.58, still trading 3.9 per cent higher or S$0.06. </p><p>Sinopec is expected to absorb all of CNAF’s assets and operations, if the merger goes through, a source said, according to a <em>Bloomberg </em>report. </p><p>CNAF owns 51 per cent of CAO, and, on occasion, balances domestic supplies by importing or exporting cargoes via trading arms like the group. </p><p>The group had noted in an exchange filing that its controlling shareholder “will be undergoing a corporate restructuring with another corporate conglomerate”. The counter-party, however, was not identified. </p><p>The negotiations reportedly continue to be ongoing, with no timetable or guarantee that the deal will proceed, people familiar with the subject said.</p></div></div>

中国航油

<p>中国航油（CAO）的股价在 11 月 4 日上涨超过 4%，此消息源于中石化与中国航空燃料（CNAF）可能合并的消息。该股最高达到 1.61 新元，最终收于 1.58 新元，仍上涨 3.9%。CNAF 拥有 CAO 的 51% 股份，如果合并顺利进行，其资产可能会被中石化吸收。彭博社的报道指出，目前的谈判没有确认的时间表或完成的保证</p>

在有关中石化与中国航油集团可能合并的谈判后，中国航油股价上涨超过 4%