Is it true that Sinopec and BP set up a joint venture company for marine fuel oil

Dear, it is true that Sinopec and BP set up a joint venture company for marine fuel.

Xinhuanet Beijing May 19 (Reporter Abe) On May 19, the reporter learned from China Petrochemical Group that China Petrochemical Fuel Oil Sales Co., Ltd. and the multinational energy company BP established a marine fuel oil joint venture company-BP China Petrochemical Marine Fuel Oil Joint Venture in Singapore on the same day, with each party holding 50% shares.