China Merchants South Oil is a familiar company, but do you know what it used to be called? In fact, its predecessor was Nanyou Petrochemical Company. The company is a state-owned enterprise in Fujian Province, founded in 1993, mainly operating in the petroleum and petrochemical industry. 2004, it merged with the China Merchants Group and began to appear in the public eye under the name of China Merchants Nanyou. The name change also marked the end of the history of Nanyou Petrochemical Company.
When China Merchants South Oil's predecessor, Nanyou Petrochemical Company, was established, the national petroleum policy was adjusted to change the petrochemical industry from a state-owned industry to a market-oriented one. NNPC emerged from this wave and built production bases and supporting facilities for oil refining, chemical industry, comprehensive utilization, etc., and became an important part of the industry in Fujian Province. 2004, China Merchants Group took a stake in NNPC with 2.05 billion yuan, starting the path of merger between the two companies. In the process, China Merchants Nanyou gradually improved its corporate structure, focused on industrial layout and integrated various resources, laying the foundation for the Group's future development.
With the development of China Merchants South Oil, its business field is also growing. At present, the company's main business includes oil refining, chemical industry, oil trading, warehousing and logistics, and new materials, etc., which involves a variety of industries such as petroleum, chemical industry, building materials, and iron and steel. The company has always adhered to "green development, intelligent manufacturing", the pursuit of high-quality development, and is committed to promoting the progress of China's petroleum and petrochemical industries. It can be said that China Merchants Nanyou is a leader in China's petroleum and petrochemical industry, and its predecessor, Nanyou Petrochemical Company, is also one of the important enterprises in Fujian Province.