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UAE Royal Petrol Group partners with Chinese e-commerce firm ZhongTianHuanYu

(July 11, 2018)
Leading UAE-based oil company, Royal Petrol Group(URP), enters into a strategic partnership with Chinese e-commerce firm, ZhongTianHuanYu(ZTHY)

UAE Royal Petrol Group and ZhongTianHuanYu announced the signing of a cooperation agreement to signal the commencement of a fund for the improvement of the mining efficiency and build the WFCC ecology.

Royal Petrol Group is organized by the Abu Dhabi United Group and some international listed companies, and has grown to become a giant in the oil and gas industry not only in the UAE, but in the Middle East as a whole. The corporation is involved in different sectors of the oil and gas industry such as the international trade in petroleum and mining, oil and gas holdings in SIPCHEM, and engineering and technology services. Other sectors the company is involved in are oil engineering, oil equipment manufacturing, financial service, new energy development and other energy projects.

ZTHY E-commerce is a relatively new project spearheaded by Zhong Tian Huan Yu International Group and in partnership with URP.

Under the deal, URP said it “plans to start a fund for improving the mining efficiency, taking up the market and promoting the market share.

“This partnership with ZTHY opens up a broad range of possibilities to source for funding not only through the conventional method such as issuing shares or bond but also through initial coin offering to support our mining work,” URP ‘s CMO Zac Martin.

The two firms also hope to incorporate URP’s technology with ZTHY’s vast market experience in China to tap on the emerging e-commerce industry in China and across the globe.

ZTHY has always had its eye on Exchange Goods Chain and online finance, with the hope of building the WFCC ecology using URP’s technology and experience in Block Chain.

URP hopes that through the strategic partnership between the two firms, a stronger relationship can be fostered through cultural exchange programs and broaden their markets to a bigger audience worldwide.

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