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Brightoil Petroleum (Holdings) Limited, one of the largest service providers of marine bunkering in China, has announced that Fu Dewu has resigned from his position as Executive Director.

In a statement issued by Brightoil, the company said Mr. Fu had tendered his resignation 'for personal reasons'.

Brightoil added: "Mr. Fu has no disagreement with the Board and there are no matters that need to be brought to the attention of the shareholders of the company."

Brightoil Petroleum is the largest marine bunkering services enterprise in Shenzhen and its surrounding areas. It supplies marine fuel at the southern ports of Shenzhen, Yantian, Shekou and Chiwan in Guangdong province. It is currently the only bunker fuel supplier at Yantian where it has a 400,000 cu m storage facility.

Brightoil also recently began supplying marine fuel at the eastern ports of Shanghai, Ningbo and Zhoushan, prompting Chimbusco to cancel its policy of publising posted prices for ports also covered by Brightoil.

Elsewhere in Asia, the company started servicing ships in Hong Kong in late April and in May Brightoil received approval from the Maritime and Port Authority of Singapore (MPA) to begin operating as an accredited supplier bunker fuel at the world's leading bunker port, subject to the company meeting specific conditions, which included the use of double-hulled bunker tankers.

Shenzhen-based Brightoil is reported to have sold 824,000 tonnes of marine fuel during the last six months of 2008. The company has also said that it intends to expand its current network to cover most of China's ports by the end of this year and to begin supplying in Rotterdam and the U.S West Coast in the near future.

In the company's last annual results for the year ended 30 June 2009, Brightoil achieved a gross profit of HK$538 million, up 14.8 times year on year, whilst the turnover of the Group surged 131.5 times to HK$5,455 million.