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China Aviation Oil

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Title: China Aviation Oil  
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Subject: Temasek Holdings, Rogue trader
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China Aviation Oil

China Aviation Oil (Singapore) Corporation Ltd ("CAO") (SGX: G92) is the largest purchaser of jet fuel in the Asia Pacific region and the key supplier of imported jet fuel to the civil aviation industry of the People's Republic of China ("PRC"). CAO supplies to the three key international airport in the PRC, i.e. Beijing Capital International Airport, Shanghai Pudong International Airport and Guangzhou Baiyun International Airport, and accounts for more than 90% of PRC's jet fuel imports. CAO also engages in international trading of jet fuel and other oil products. CAO owns investments in strategic oil-related businesses, which include Shanghai Pudong International Airport Aviation Fuel Supply Company Ltd and China National Aviation Fuel TSN-PEK Pipeline Transportation Corporation Ltd.

Incorporated in Singapore on 26 May 1993, CAO was listed on the mainboard of the Singapore Exchange on 6 December 2001.

The largest single shareholder of CAO is China National Aviation Fuel Group Corporation ("CNAF"), which holds about 51% of the total issued shares of CAO. A large State-owned enterprise in the PRC, CNAF is the largest aviation transportation logistics service provider in the PRC, providing aviation fuel distribution, storage and refuelling services at most of the PRC airports. BP Investments Asia Limited, a subsidiary of BP, is a strategic investor of CAO which holds 20% of the total issued shares of CAO.


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