Warburg committed to China oil storage

摘要

Singapore—US private equity company Warburg Pincus remains committed to growing a successful oil storage business in China despite ongoing problems with its Chinese partner Titan Petrochemicals, also known as PetroTitan. “While it has been very frustrated and disappointed by what’s happening at Titan, it still retains the idea of investment around the storage business in China as a growth industry. The strategy is to grow something of scale and size and if they do it well, that would please their investors,” a highlyplaced source involved with the matter told Platts August 30.