China Aviation Oil ceases oil derivatives trading
China Aviation Oil (Singapore) Corp has ceased all oil derivative trading activities after announcing a $550 million trading loss and seeking court protection from creditors last week, the company said late Wednesday.
With regard to swap derivative trading activities, the company said that 25 counterparties “have unilaterally terminated their trades with the company based on theircontractual rights.”
This leaves 35 counterparties remaining with trades.
“The company has informed all the
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