May 17, 2019 / 8:18 AM / 6 days ago

Hengli Oilchem to add freight, forex trading desks in Singapore

SINGAPORE, May 17 (Reuters) -

* Hengli Oilchem, the trading arm of Chinese chemical producer Hengli Group, said on Friday it plans to add freight and forex trading desks at its office in Singapore

* Hengli Oilchem, which started operations in Singapore in June 2018, has set up trading desks for crude, oil products and petrochemical

* The company also expects to add five employees by the end of this year, taking the count to 35, the Singapore-based trading firm said in a statement

* Hengli OilChem, 80% owned by Hengli and 20% by Sinochem Corp , buys crude for Hengli Group’s new refinery in Dalian, northeast China

* The 400,000 barrels-per-day (bpd) refinery boosted its Saudi crude oil imports in the second quarter and reached full production capacity this week (Reporting by Florence Tanm, Editing by Sherry Jacob-Phillips)

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