World News
Brightoil Denies Interest in Acquiring Noble
Brightoil Petroleum (Holdings) Limited (Brightoil) has denied that it is looking into negotiations to acquire Singapore-listed Noble Group Limited, the company announced.
The company said that it was responding to recent reports which hinted that companies such as Brightoil, China Minmetals, and Temasek Holdings could be interested in buying the Asian commodity trading giant.
"Brightoil Petroleum clarifies that it has not contacted or negotiated with Noble Group Limited in relation to this issue and has no intention to acquire Noble Group Limited," Brightoil said.
It had been reported that Noble's recent share price slump could be "flushing out buyers" looking to gain a bigger foothold in the commodities industry.
Last month, Brightoil reported that the company's bunker business, despite price volatility, had experienced steady growth in the last half of 2014.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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