Asia/Pacific News
Brightoil Bunker Business Moving to "Light-Asset" Operations
Brightoil Petroleum (Holdings) Limited (Brightoil) says its International Trading and Bunkering Unit (ITB) is actively merging its traditional business with the company's e-commerce platform.
The move is expected to provide more "transparent and light-asset" operations, the supplier says, adding that over the next financial year it intends to take further steps with its online endeavours first launched in 2015.
"The trading sector has exited the oil terminal facilities business outside China and is actively researching, developing and promoting the bunkering online platform. Two e-commerce versions are expected to be launched in the financial year of 2019," Brightoil said in a business update released today.
Earlier this week the company said it was in talks to sell of its Zhoushan Oil Storage and Terminal Facilities along with its fleet of 15 vessels.
Elsewhere for Brightoil's bunker business, the company says it is in "active discussion with international oil majors, Chinese national oil companies and regional refineries" over solutions for IMO 2020.
