Sign up
Log in Sign up
Wed 28 Feb 2018, 13:37 GMT

Brightoil delays release of fiscal H1 results


Bunker supplier also confirms that it will not be able to publish its interim report by March 31.

Illustration of a businessman analyzing documents.
Image credit: File image / Pixabay
Brightoil Petroleum (Holdings) Ltd confirmed on Wednesday that it will not be able to publish its interim results for the six months ended December 31 by February 28.

The bunker supplier explained that the publication of its results for the year ended June 30, 2017, was still pending and that, as a result, it would not be able to release its financials for the first half (H1) of the fiscal year either.

Additionally, the interim report for the six months ended December 31 will not be released by March 31, Brightoil said.

As Bunker Index previously reported, trading in shares of Brightoil was halted on October 3, with the company requesting a suspension until the publication of its annual financial results, which were due to be released by September 30 under listing rules.

Brightoil said in December that work being carried out by an independent adviser to review previous transactions by the company had not yet been completed, and, as a consequence, it had not released its financial results for the year ended June 30, 2017.

The company received a letter from the Stock Exchange of Hong Kong (SEHK) at the end of last year which listed a number of conditions for the resumption of trading in shares of Brightoil to take place.

Trading in shares of the Hong Kong-listed firm remains suspended.

Hong Kong 
United LNG I bunker vessel alongside Blue Aspire vessel. Titan charters 8,000-cbm LNG bunker vessel for ZARA region operations  

United LNG I to deliver LNG and bio-LNG across Amsterdam, Rotterdam, Antwerp and Zeebrugge ports.
Flag of Mauritania. Peninsula begins physical bunker supply operations in Mauritania  

Marine fuel supplier operating two barges following licence award from the Mauritanian National Hydrocarbons Commission.
X-Press Cassiopeia vessel. PuriFire Energy signs biomethanol supply deal with X-Press Feeders  

Letter of intent covers up to 15,000 tonnes annually for feeder carrier’s fleet.
Alan Yang and Yujin Kang, Flex Commodities. FLEX Commodities opens Seoul office with new Korea leadership team  

Dubai-based trader establishes South Korea presence with appointments of Alan Yang and Yujin Kang.
Eng. Sulaiman Ali Al Hadhrami, O Bunkering. O Bunkering appoints Sulaiman Alhadhrami as chief executive officer  

Omani bunker supplier names new CEO to lead growth and expansion in the maritime sector.
Shore power system. Zhoushan expands shore power infrastructure as part of emissions reduction drive  

Chinese port city reports 30% increase in shore power usage across terminals and berths.
Hamburg Express vessel. Hapag-Lloyd and Kuehne+Nagel partner on biofuel initiative for Asia-Europe trade  

Agreement covers 3,300-teu using waste-based biofuels, targeting a 2,979-tonne CO₂e reduction in 2026.
Rendering of a tug vessel. Berg Propulsion to supply electric propulsion systems for India’s green tugs  

Swedish firm to provide thrusters and electrical integration for two 60-tonne bollard pull battery-electric vessels.
Singapore skyline with Merlion and central business district. World Fuel seeks marine fuel supply executive in Singapore  

Role to manage supplier relationships and source marine fuel across South-East Asia and Australia-New Zealand.
OOCL Wisdom naming ceremony. OOCL names first methanol dual-fuel vessel  

Orient Overseas Container Line christens OOCL Wisdom, dubbed the world’s largest methanol dual-fuel container vessel.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG/LBM Biofuel Biogas Biomethanol Dual-fuel E-fuel E-methane/e-NG Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind power



 Recommended