Asia/Pacific News
Brightoil Loses Two Trading Heads, Hires New Chief Executive in Singapore
Two senior heads of trading in Singapore have left Brightoil Petroleum Holdings Ltd, sparking a reshuffle that also sees the hiring of a new chief executive of Singapore oil trading, reports Reuters.
According to sources, Du Songhao, head of crude oil trading, and Zhang Xincheng, head of products and petrochemicals, have both left the company.
Wang Wei, the former Singaporean head of trading for Chinese state-run Sinochem, will move to take the top spot in Singapore.
Reasons for why Du and Zhang left remain unknown and both declined to comment.
The two initially joined Brightoil in 2012, coming from China International United Petroleum & Chemicals Co., Ltd. (UNIPEC), a subsidiary of Sinopec Limited.
It was reported that Hong Kong-Listed Brightoil has been aggressively expanding its portfolio, moving to position itself as an upstream-focused company.
Brightoil founder Sit Kwong Lam also stepped down as CEO earlier this year.
