Hengli Petrochemical International, the former Singapore trading arm of **Hengli Petrochemical (Dalian) Refinery**, is shutting down its operations. Industry sources confirm the decision, citing the company’s sanctions-related challenges. The move affects its trading activities in Singapore.
Hengli Group, a Chinese refiner facing US sanctions, transfers control of its Singapore-based trading arm to a local Chinese government entity. The restructuring aims to realign ownership amid regulatory pressures. Sources close to the matter confirm the shareholding adjustments.
The U.S. Treasury sanctions a Chinese refinery, **Teapot Refinery**, and 40 shipping firms and vessels linked to Iran’s oil trade network. The move disrupts operations supporting Iran’s shadow fleet, which evades international sanctions. Authorities highlight the network’s role in facilitating illicit oil sales globally.
Apr 2026U.S. Department of the TreasuryNews article
Hengli Petrochemical Co., Ltd. reports a decline in sales and revenue for 2025. The company’s sales drop to **CNY 198.7 billion** from **CNY 234.1 billion** the prior year, while revenue falls to **CNY 201.1 billion** from **CNY 236.4 billion**. The results reflect a year-over-year contraction in both key financial metrics.
