cefc and ye jianming unusual journey of oil in tunisia

   
cefc and ye jianming unusual journey of oil in tunisia
                                               
                                               
                                               
                                               
  • cefc and ye jianming unusual journey of oil in tunisia
Does CEFC sell oil in China?

CEFC doesn¡¯t have the right to sell directly in China, so it either stores the oil or sells it to the market through one of China¡¯s SOEs. After several years of economic malaise in Europe following the 2008 global banking crisis, European energy assets started coming up for sale. ¡°They decided to sell their refineries and gas stations,¡± Ye says.

Who is Ye Jianming?

And the fresh-faced Ye has positioned himself in the middle of China¡¯s economic and political desires ¡ª the exact place he wants to be. CEFC China Energy, a Chinese oil company, and its 39-year-old founder Ye Jianming are making waves on the global oil market.

How did CEFC become a successful oil company?

He was in his mid-20s at the time. In the fallout of the 2008 financial crisis, CEFC scooped up European oil assets and built up a network of oil storage facilities and transport services through Central Asia and Europe. Eventually, CEFC was able to secure highly coveted licenses to import oil as the government began to open up the oil sector.

Who owns CEFC China Energy?

Two thirds of the company¡¯s financing came from the state-owned China Development Bank. Today, Chinese state-owned giant CITIC has taken control of CEFC China Energy¡¯s Czech assets.