World News
Three Senior Members From Brightoil's Fuel Oil Team Resign
Three senior members of Brightoil Petroleum's fuel oil team have resigned, according to a report by Reuters.
Paul Bradshaw, who currently lists himself as Director, Oil Storage and Operations at Brightoil on professional social networking website LinkedIn, was said to have quit some time between the end of July and early August.
The former BP man, who was one of around 20 staff who left the British oil and gas company to join Brightoil in 2010 in the aftermath of the Deepwater Horizon explosion and resulting spill, is currently serving his notice period.
The Briton is tipped to join supplier OW Bunkers, Singapore in November as its next managing director.
Brightoil derivatives trader Lim Eu Ming, another former BP employee, and senior fuel oil trader Davy Choo were also reported to have quit.
The resignations follow the June departure of Vince Matassa, the head of trading operations in the U.S. for Brightoil Petroleum, who was also one of the BP staff to switch to Brightoil in 2010.
His exit prompted the company to conduct an audit into its U.S. operations after it revealed it had "accumulated losses of up to approximately $15 million."
Reuters reported that Matassa has since filed a lawsuit in a U.S. court against Brightoil for breach of contract and defamation, his lawyer, K. B. Battaglini, of Strong Pipkin Bissell & Ledyard, told Reuters by e-mail.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 596.50 | 0.50 | 688.00 | 1.00 |
| Rotterdam | 523.00 | 2.50 | 677.00 | 1.00 |
| Houston | 550.50 | 0.00 | 676.50 | 8.00 |
| Fujairah | 582.00 | 2.50 | 758.50 | 5.50 |
| Global 20 Ports Average | 599.50 | 0.50 | 757.50 | 2.00 |
| Global 4 Ports Average | 563.00 | 1.50 | 700.00 | 4.00 |
| Global Average Bunker Price | 644.50 | 1.50 | 813.50 | 0.50 |
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