China Aviation Oil (Singapore) Corp Ltd has postponed a $135-million oil storage project amid a rift with its Beijing parent and speculation the company will be restructured, an industry source has said .

The project, a joint venture with the Emirates National Oil Co  LLC Group (Enoc), was to be built on a petrochemicals hub off the west coast of Singapore by early 2006.
“The project has been deferred,” said an industry source familiar with the situation.