KUALA LUMPUR: Envair Holdings Bhd will supply two million barrels of light crude oil monthly for 60 months to a China-based company.
In its statement to Bursa Malaysia yesterday, Envair said it had received a letter of intent from An Hong Shenzhen on Oct 28 confirming the purchase of two million barrels of light crude oil monthly for 60 months with options of extensions and rollovers as well as possible increase of volume.
“The directors will discuss the terms including the pricing of the light crude oil with An Hong and upon the finalisation of these terms a definitive agreement will be signed and an announcement will be made in due course, including the financial effect of the supply of light crude oil on the company,” said the announcement.
This article appeared in The Edge Financial Daily, November 1, 2011.
In its statement to Bursa Malaysia yesterday, Envair said it had received a letter of intent from An Hong Shenzhen on Oct 28 confirming the purchase of two million barrels of light crude oil monthly for 60 months with options of extensions and rollovers as well as possible increase of volume.
“The directors will discuss the terms including the pricing of the light crude oil with An Hong and upon the finalisation of these terms a definitive agreement will be signed and an announcement will be made in due course, including the financial effect of the supply of light crude oil on the company,” said the announcement.
This article appeared in The Edge Financial Daily, November 1, 2011.
