we fuel your ambition

AFCO Energy launches new petrochemical trading business

Singapore, February 15, 2016

New trading arm steps up to help strengthen customers’ competitive edge

AFCO Energy Pte Ltd officially launched its new division, AFCO Petrochemicals Pte Ltd, today at its Battery Road headquarters.

The new company specializes in the trading and risk management of petrochemical products and its derivatives. Ali Nael, managing director of AFCO Energy, said his company and its new division will better serve customers by providing holistic solutions.

“We want to take advantage of the market inefficiencies resulting from the consolidation of the energy industry and flux in the restructuring of national economies,” Mr Nael said. “Such broad changes will open the doors for AFCO Petrochemicals, which though newly-set up, is managed by experienced traders widely respected in the petrochemical industry.” 

AFCO Petrochemicals is headed by Managing Director Lim Fang Wei who has, since 1997, led teams at Voest-Alpine, Shell, Noble, BP, and China Aviation Oil. He was an aerospace engineer and investment banker prior to starting his trading career.

Mr Lim says the new trading arm aims to build confidence in a global climate of uncertainty by delivering petrochemicals safely and reliably. “Historically, when markets are exuberant, less attention is paid to the quality of growth. Some players bail out when the market does not afford the outsized returns in the short term,” he explained.  

“At AFCO Petrochemicals, we wish to address this. The benefit we hope our customers see in partnering with AFCO is that we are consistently available and can be trusted to execute for our customers with integrity & excellence. These are the TIE -Trust, Integrity, Excellence- values we espouse.

AFCO Petrochemicals Managing Director Lim Fang Wei stands next to oil trader Chan Chi Long

When asked what AFCO Petrochemicals will do in the current weak and volatile oil market environment, Mr Lim said: “I have learnt, during times like these, to pay close attention to what my customers need. Then we work relentlessly hard and smart to deliver solutions which will position them and us to maximise value when the market recovers."

He added, “There are still opportunities in China but India, the Middle East, and some Southeast Asian markets have become increasingly important. Therefore we aim to provide timely and transparent information so that our customers can make profitable decisions.”

AFCO Petrochemicals Pte Ltd (www.afco-petrochemicals.com) is a division of AFCO Energy Pte Ltd, with offices in China and India. AFCO is owned by the Netherlands-incorporated FinCo Fuel Group.

More news

Dordrecht, November 7, 2019

PIB supplies clean energy to South African households

The new PIB programme 'Solid Biomass Opportunities in South Africa' will take care of the supply of clean energy to South African households, while also supplying biofuels to the Netherlands. Read more >

Dordrecht, July 23, 2019

FinCo introduces ChangeTL - a new and clean fuel for inland shipping

FinCo Fuel Nederland B.V. introduces ChangeTL, a new fuel for the inland shipping industry with the unique combination of GTL, FAME and natural enzymes. This fuel provides a.. Read more >

Dordrecht, June 18, 2019

Clean transportation fuel in exchange for collected non-recyclable plastics

IGES, FinCo and CIV Texel cooperate to remove non-recyclable plastics from the North Sea and deliver it after conversion as a clean transportation fuel to the Texel fishing fleet. Read more >

Dordrecht, April 15, 2019

FinCo reveals new brand identity with a redesigned logo

FinCo announced today the launch of its new corporate brand identity and redesigned logo. These changes come at a time when the company is further expanding its reach with an increased focus on... Read more >

News Archive >