World News
Brightoil Predicts Profit in H1 2014
Brightoil Petroleum (Holdings) Ltd. [HKG:0933] (Brightoil) expects to report a positive profit for the six months ended December 31, 2013 after losses in recent periods, the company announced Thursday.
Brightoil attributed the turnaround to "the improvement of a few business sectors," including international trading and bunkering, cost reduction measures, improvement in the shipping business, and stable production from the Dina Gas Field.
The company said its prediction is based on a preliminary review of unaudited accounts.
Brightoil expects to publish its official results for the period by the end of February.
The company reported a loss of HK811.1 million ($104.6 million) for the six months ended December 31, 2012 and a loss of HK721.7 million ($93.1 million) for its full fiscal year 2013, which ended June 30, 2013.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 491.00 | 2.50 | 592.50 | 16.50 |
| Rotterdam | 445.00 | 13.00 | 593.50 | 11.00 |
| Houston | 443.50 | 6.50 | 601.50 | 5.50 |
| Fujairah | 487.00 | 10.50 | 711.00 | 12.00 |
| Global 20 Ports Average | 517.50 | 1.50 | 697.00 | 3.00 |
| Global 4 Ports Average | 466.50 | 3.50 | 624.50 | 0.00 |
| Global Average Bunker Price | 559.50 | 2.50 | 736.00 | 2.00 |
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