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SINGAPORE (Reuters) - Saudi Arabia’s state-owned oil giant Aramco is teaming up with South Korean refiner S-Oil Corp (010950.KS) for a joint reception at this year’s Asia Pacific Petroleum Conference (APPEC) in Singapore, according to two industry sources. “Having two separate receptions is quite redundant, and considering that most of the guests overlap it makes more sense to co-host the party,” said one source with direct knowledge of the matter who declined to be named.
Aramco became the single largest shareholder of S-Oil in January 2015, part of its drive to expand its footprint in the downstream petroleum sector and establish commercial offices in global oil trading hubs like Singapore, Aramco did not respond to a request for comment, An S-Oil spokesman confirmed the joint reception and said the South Korean refiner has co-hosted receptions with many other companies at events for global clients, Last year, S-Oil and Aramco hosted separate APPEC events, This year’s cufflinks walmart joint reception will be held at the Ritz Carlton hotel on Sept, 25, the second day of the conference..
Aramco traditionally sells most its crude oil under long-term deals with fixed monthly volumes and prices, but the company is in a drive to become more commercially minded, and plans to gradually increase the amount of crude and refined products it freely trades. (Link: reut.rs/2PxeyoQ). Aramco’s trading office in Singapore, which opened in 2015 but only stepped up hiring in 2017, is its first overseas trading operation. The Singapore office handles physical and derivatives oil trading for its joint venture operations in Asia, which include the partnership with S-Oil and another with Japan’s Showa Shell 5002.T, said a second source.
S-Oil is South Korea’s third-biggest refiner, selling fuels like gasoline, diesel or jet fuel globally, Its main supplier of feedstock crude oil is Saudi Aramco, Singapore’s APPEC, which this year takes place from Sept, 24-26, is one of Asia’s biggest annual petroleum industry gatherings, during which producers, refiners and merchants cufflinks walmart sign and renew supply deals and exchange information, In one such event, APPEC will also host a reception by French oil major Total (TOTF.PA), Nigerian National Petroleum Corp and their project partners to launch Egina crude, according to a copy of an invitation seen by Reuters..
MINNEAPOLIS/SHANGHAI (Reuters) - The CEO of Chinese online retail giant JD.com Inc, Richard Liu, was arrested in Minneapolis last week following an allegation of rape, according to a public information report released by police on Tuesday. Liu, who through his lawyers has denied any wrongdoing, was released from custody on Saturday without being charged or paying bail. He has returned to China, appearing at an event on Tuesday to sign an agreement with Shandong Ruyi, the owner of Swiss luxury shoe firm Bally.
The disclosure adds detail about the accusation after police said previously he had been arrested on suspicion of criminal sexual conduct, It is likely to increase the pressure on Liu and U.S.-listed JD.com, which saw its shares end down 6 percent on its first day of trade since the news of his arrest broke, Minneapolis Police Department spokesman John Elder cufflinks walmart said on Tuesday that if there were any charges against Liu they would not be filed until completion of a criminal investigation that would not occur before Friday..
Lawyers for Liu have said they do not expect him to be charged. “There’s no credible complaint,” defense attorney Joseph Friedberg said on Tuesday. The police report said domestic violence was not involved. Elder said the alleged attack reportedly occurred at 1 a.m. local time on Friday, and that Liu was taken into custody later that evening. Elder declined to disclose whether any accuser was cooperating with police. “I wouldn’t address that. That goes to the investigation,” he said.
According to Minnesota law, the maximum penalty if found guilty of first degree sexual assault is 30 years and the minimum is 12 years, Beijing-based lawyers said that if Liu was charged, there would be few legal channels to force him to return to the United States, but added that it was unlikely he would refuse given the potential negative impact on his business interests, China does not have an extradition treaty with the United States, They declined to be identified as they were not authorized to speak cufflinks walmart publicly on the matter..