China has awarded a license to oil major Shell to independently trade oil products in China’s domestic wholesale oil market, a sign that Beijing is keen to attract more international participation in its oil sector. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Shell (Zhejiang) Petroleum Trading Co., a wholly-owned subsidiary of Shell China, has obtained the domestic oil product wholesale license from China’s Ministry of Commerce, the company said in a statement Wednesday. This is the first oil product wholesale license that China has awarded independently to a foreign company, market sources added. The license will enable Shell China’s Zhejiang branch to carry out purchase and sales of oil products for its customers in the Chinese market, the company said. “After obtaining the wholesale license for oil products, we will be able to provide better trading services to our customers,” said Jacek […]