Brightoil Petroleum (Holdings) Limited is pleased to announce the strategic reform of its fuel oil International Trading and Bunkering business and the establishment of a crude oil trading team. Following the announcement of Brightoil's International Trading and Bunkering segment, which faced an extremely challenging shipping market environment with poor demand and lower margins, Brightoil has new updates on its International Trading and Bunkering business.
As part of its strategic reform, the Group appointed Mr. Stephen Qi Jun International Trading and Bunkering Chief Operating Officer, a capacity in which he will lead the daily operations team, which comprises fuel oil traders Mr. Patrick Latham, Mr. Jason Song Qi and Mr. Tan Chuan Hong. Furthermore, to better develop the trading and bunkering business as well as to strengthen risk management, the Group also appointed Mr. Li Gang Head of Global Marine Bunkering and Mr. Gary Wu Chief Risk Officer and Brightoil Petroleum (Singapore) Ltd Risk Officer. They will work together closely after the reorganization of the international trading and bunkering team.
The Group announced that Mr. Quek Chin Thean will no longer be CEO of the trading and bunkering team, and would like to express its sincere gratitude to Mr Quek for his contributions to the Group, and wishes him all the best in his future endeavours.
International Trading and Bunkering has been one of the Group's core businesses. In the past two years, the Group has established a solid foundation of front, mid to back office framework for the business to stabilize the consistency of market operations.
With an eye on Brightoil's long term sustainable development, the Company established its crude oil trading team in April 2012, which has been at full strength since October
2012. The Group's crude oil business is led by Crude Oil Vice President Mr. Kevin Du, and also includes Crude Oil Vice President Mr. Franck Zhang Xincheng, Crude Oil Far East
Regional Team Leader Mr. Tsuyoshi Minami, as well as three crude oil senior traders - Mr. Robert French, Mr. Li Shiyong and Mr. Manosh Saha. The team will work towards satisfying the growing demand for crude oil in the Asia region, especially in the China market.
Source: Brightoil Petroleum