Recently, we have received an application from Sinopec Petroleum Reserve Co., Ltd. for decreasing the active storage capacity for crude oil futures. Up to now, all the underlying futures delivery commodities under the standard warrants of the Zhanjiang Storage Branch have been cancelled and loaded-out.

In accordance with applicable provisions of the Delivery Rules of the Shanghai International Energy Exchange and relevant business rules, we have decided to notify as follows:

We approve the active storage capacity of Sinopec Petroleum Reserve Co., Ltd. (located on Xinggang Avenue, Lingang Industrial Zone, Zhanjiang, Guangdong Province), to be decreased from 800,000 m3 to 400,000 m3, with an approved storage capacity of 900,000 m3.

As of the date of this Notice, Sinopec Petroleum Reserve Co., Ltd. shall offer Designated Delivery Storage Facility services within the decreased active storage capacity, strictly abide by all relevant rules, strengthen operation management, and ensure the sound functioning of such services.
 

Shanghai International Energy Exchange
April 22, 2022