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China Aviation Oil or CAO has appealed to China National Petroleum Corporation or CNPC to prevent the aviation oil supply shortage in the 100 airports it serves.
CAO is as Singapore listed company which supplies almost all of China's jet fuel imports, and is now assisting the Singapore police in the investigation of its 550 million US dollar derivative loss.
CAO spokesman Gerald Woon says the appeal to the CNPC will be temporary and the aviation oil crisis will not occur in the domestic market.
Singaporean authorities are hoping Chen Jiulin, the suspended chief executive of the company, to return to Singapore this week to help the probe.
But it remains unclear at this stage if Mr. Chen is still in China, where he was thought to be traveling with his wife last Wednesday.
The Singapore stock exchange, the Monetary Authority of Singapore and government-appointed auditors from PricewaterhouseCoopers are involved in the investigation.
(CRI December 7, 2004)
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