Nippon Oil Agreed With CNPC On Mutual Products Supply

Japan's No 1 oil wholesaler Nippon Oil Corp said it has agreed with China National Petroleum Corp, China's biggest oil company, to begin their mutual supply of products, starting in April.

The one-year agreement, signed the yesterday between Nippon Oil and China Oil, a trading house of CNPC, calls for the Japanese and Chinese oil companies to supply each other with products for which they have excess production capacities.