May 29, 2019 / 3:40 AM / 19 days ago

CEPSA's Singapore trade office to start operations in Sept - sources

SINGAPORE, May 29 (Reuters) - Spanish oil and gas firm CEPSA notified customers late Tuesday that its trading office in Singapore will start operations on Sept. 1, according to trade sources.

The wholly owned unit CEPSA Trading Asia Pte Ltd is “created to develop and perform our trading activities in the Middle East and Asian markets,” CEPSA said in a notice reviewed by Reuters.

The company has been planning to start an office in Singapore since last year and had put out a job advertisement on LinkedIn to hire a crude oil and products trader, the sources said.

“It makes sense because they have Umm Lulu crude to sell,” one of the sources said, referring to CEPSA’s share of oil production in Abu Dhabi in the United Arab Emirates.

A check with the Singapore business registry showed that CEPSA Trading Asia is located at Suntec City, a popular building for energy companies.

CEPSA could not be immediately reached for comment.

Reporting by Florence Tan, Editing by Sherry Jacob-Phillips

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