Chemoil Energy Limited

Chemoil Energy Limited is an integrated physical supplier of marine fuel products. The Company has operations and service centers in Singapore, the Amsterdam-Rotterdam-Antwerp region and Fujairah, as well as bunkering ports in the Americas, such as Los Angeles, New York, Houston, the Gulf of Mexico and Panama. It also offers jet, gasoline and diesel in the western part of the United States through its associated company, IPC (USA), Inc. As of December 31, 2007, it was organized into three segments: retail, which is engaged in the sales of physical supplies of marine fuel and related products; cargo, which is engaged in the sales of marine fuel and related products, such as the components of marine fuel used to blend into marine fuel, to customers such as traders, physical suppliers and resellers, and ex-wharf, which is engaged in sales of marine fuel to customers, such as resellers or distributors that accept delivery at its service centers and resell and deliver the product.