Hong Kong listed Brightoil Petroleum (Holdings) Limited on Friday (28 December) voluntarily announced it has acquired total funding of USD $700 million from CNOOC for its Caofeidian Oilfield project through its two subsidiaries of CNOOC Group, CNOOC International Financial Leasing (Hong Kong) Limited and CNOOC China Limited.
On 27 December, Win Business Energy Caofeidian Limited, a subsidiary of Brightoil, entered into a finance lease agreement with CNOOC International Financial Leasing (Hong Kong) Limited for a principal amount up to USD406,000,000 for a period of five years.
A separate development fund of approximately USD $300 million to support the ‘Overall Development Adjustment Plan’ of Caofeidian Oilfield will be signed with CNOOC China Limited at a future date.
“After the implementation of the Plan, it is expected that the annual output of the oilfield will be increased by more than one fold,” notes Brightoil.
Photo credit: Brightoil Petroleum (Holdings) Limited
Published: 31 December, 2018
Revenue of Malaysia-listed Straits Energy Resources crossed the RM 1 billion mark for the first time in the company’s history, learned Manifold Times.
Initial exports of bunker fuel may be limited due to focus on developing domestic coastal bunker fuel market.
HSBC winding up petition at Bermuda Court has been adjourned to April 2022, giving NewOcean Energy additional time for debt restructuring on a “soft touch” basis.
Creditors of the abovenamed companies should file their proof of debt with FTI Consulting who will be administering all affairs of the companies.
‘We are here to transfer the extremely valuable knowledge gained over the past six years to the maritime sector, such that our customers are comfortable in the use of such biofuels,’ states CEO Olivier Baiwir.
2nd Reconnaissance Group inspected the wooden hulled ship “KG 95945 TS” on 14 July and found no supporting documents proving the origin of the oil.
Program introduces periodic assessments, mass flow metering data analysis, and regular training for relevant key personnel to better handle the MFMS to ensure a high level of continuous operational competency.
U.S. Claims Register Summary recorded a total USD 833 million claim from a total 180 creditors against O.W. Bunker USA, according to the creditor list seen by Singapore bunkering publication Manifold Times.
Glencore purchased fuel through Straits Pinnacle which contracted supply from Unicious Energy. Contaminated HSFO was loaded at Khor Fakkan port and shipped to a FSU in Tanjong Pelepas, Malaysia to be further blended.
Individuals were employees of surveying companies engaged by Shell to inspect the volume of oil loaded onto the vessels which Shell supplied oil to; they allegedly accepted bribes totalling at least USD 213,000.
MPA preliminary investigations revealed that the affected marine fuel was supplied by Glencore Singapore Pte Ltd who later sold part of the same cargo to PetroChina International (Singapore) Pte Ltd.
‘MPA had immediately contacted the relevant bunker suppliers to take necessary steps to ensure that the relevant batch of fuel was no longer supplied. Further investigations are currently on-going,’ it informs.
