Petroluxe Group was established in Malaysia in 2023 as an overseas subsidiary owned by YIHONG NEW ENERGY CO LTD. The company's main business includes trading, refining, bunkering and blending.

 

There are two entities, PETROLUXE ENERGY (M) SDN. BHD. and PETROLUXE REFINERY (M) SDN. BHD.

Petroluxe Energy specializes in bunkering and trading. Providing customers with efficient fuel supply chain solutions. Implementing optimal transportation and supply chain management strategies in the bunkering business. Petroluxe Energy plans to purchase five ships dedicated to bunkering, which will be used to provide fuel services to customers.

Petroluxe Refinery, on the other hand, is dedicated to the refining and blending business. It provides specialized petroleum product blending services. It also plans to build a tank farm with a capacity of 200,000 cubic meters. This large-scale tank farm will provide the company with ample storage space to meet the growing demand of customers. The main products are naphtha and petroleum distillates. The scale of production will be 1 million tons per year.

 

The future plan includes three phases. For phase 1 the project is Storage and Refinery Plant. For phase 2 the huge project is 0.8 million tons of PX Aromatics Complex which is prepared for two periods. For phase 3 the project of PX Aromatics Complex to be continued.

The company plans to invest $220 million to build a world-class oil storage and refinery in Malaysia. The construction includes refinery, oil storage, oil testing laboratory, administration building and related facilities.

In addition, the company will actively do its best to create local employment opportunities and provide training for its employees. And pay more than RM100 million in taxes to the local government annually. Transition of technology to the local industry. Improvement of the petrochemical industry.

The Company also plans to aggressively expand into international markets. To invest more in the Singapore market to meet the growing customer demand for more diversified services and products.

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Petroluxe fully relies on the resources of its parent company, YIHONG NEW ENERGY CO LTD. This includes nearly 100 experienced technical R&D staff and five advanced laboratories dedicated to R&D and innovation. There is also an extensive network of customers including shipping companies, energy traders, etc. to provide them with stable and reliable services. These resources provide Petroluxe with strong support to maintain its competitive edge in the market and to continue to innovate and develop.

At the same time, Petroluxe works closely with brother companies in China (Tianjin Huahaisheng Marine fuel company, Tianjin Jiangdong Petrochemical Co., Ltd, Dongying Ruiying Petrochemical Co., Ltd, etc.). Through technical cooperation, market development, talent exchange and resource sharing, both companies explore market opportunities and strengthen cooperation. This close partnership helps to strengthen the connection between each other and realize the development goal of mutual benefit and win-win situation.