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
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.
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‘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.