Asia/Pacific News
Sources: Brightoil Hires New Head of Fuel Oil Trading in Singapore
Brightoil Petroleum Holdings [HKG:0933] (Brightoil) have hired a new head of fuel oil trading in Singapore, sources close to the matter told news agency Reuters today.
Former FAL Oil and Koch fuel oil trader Ong Eng Hian was said to be joining the firm in April, a little over three months after the position was vacated by Edmund Lau at the end of 2012.
There has not yet been an official response on the matter from Brightoil.
Lau was the seventh senior person to leave the company in the last 6 months of 2012, a period which also saw the firm's bunker sales fall 37 percent year-over-year to about 2.8 million metric tonnes (mt), as well as revenues fall 34.9 percent to HK$23,589.5 million ($3.04 million).
Brightoil also said recently that it plans to restart its trading activities in Houston so it can establish a trading presence in Western markets.
