Ningbo Shihua Crude Oil Terminal Company Ltd. (Ningbo Shihua) was established as a limited liability company in December 2002 in the PRC and then transferred into a Sino-foreign Jiont Venture in October 2012. Ningbo Shihua was held as to 50% by Sinopec KTS Development, a subsidiary of Sinopec Kantons.

The Port of Ningbo where the Ningbo Shihua terminal located is an important port of foreign trade and a sea transport hub in Chinese history. It lies at the T juncture of the golden waterway of Yangtze River and the golden eastern coastline where is the most dynamic Yangtze River Delta Area with great development potential. It has a proximity to Hangzhou and is less than 100 sea miles away to Shanghai. Apart from these, the Ningbo port is a year-round navigable ice-free port with favorable water depth condition and can reach -20 to -30 meters deep less than 100 meters away from the cost.

Boasting one 69,000-ton crude oil berth, one 250,000-ton crude oil berth and another 450,000-ton crude oil berth and supporting facilities which have a combined design throughput of 35 million tons/year, the company mainly renders crude oil loading and unloading services.