Second petroleum exchange on mainland opens

The Chinese mainland's second petroleum exchange started trading on Wednesday in Dalian, Liaoning province, Xinhua reported (in Chinese). The Dalian Petroleum Exchange would mainly deal with spot transactions of fuel oil, bitumen and petrochemical products, said Zhou Peiliang, general manager of the exchange. Zhou said the exchange would build itself into a "trading, pricing and information center". The first exchange for the trade of oil products on the Chinese mainland, the Shanghai Petroleum Exchange, opened on August 18, 2006.