China Trade Information

China National Aviation Fuel Group Corp (CNAF), the country’s largest jet oil provider, said its sales revenue in the first half year rose 59% year-on-year to RMB 51 billion (US$7.5 billion), mainly boosted by the surging demands and prices.

The Beijing-based company said Friday in a statement that fuel and chemical sales went up 27% from a year before to 8.17 million tons in the first half. Jet fuel sales amounted to 6.17 million tons, a year-on-year increase of 9.5%.

CNAF is the largest shareholder of Singapore-listed China Aviation Oil (Singapore) Co Ltd.

The jet oil provider has raised third-quarter jet fuel prices by RMB 720 per ton as of Jul. 1, after the National Development and Reform Commission (NDRC) hiked ex-refinery price of aviation kerosene by RMB 1500 per ton on Jun. 20.

Formerly know as China Aviation Oil Supply Corp, CNAF is a large state-owned air transportation logistics service provider under the supervision of the State-owned Assets Supervision and Administration (SASAC) of the State Council. CNAF integrates the procurement, storage, sales of jet fuel and into-plane services.

Tags: Fuel

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