Brightoil: Update on suspension of trading

Brightoil: Update on suspension of trading


The audit committee of Hong Kong-listed Brightoil Petroleum has engaged an independent adviser to assist with the company’s review, it said in a recent update on its trading suspension.

The committee has been liaising with the auditor regarding the status of the work of the independent adviser.

Upon completion of the review, the company will take all necessary steps to provide information to the auditor such that the audit can be completed as soon as practicable.
 
“The company understands that the independent adviser has recommended further steps, and the audit committee is currently evaluating such recommendations and seeking legal advice thereon,” it says.

“The company is not yet in a position to provide a reliable estimate on when the work of the independent adviser will be completed

“Finalization of the 2017 Annual Results depends on, among other things, the work of the independent adviser.”

Manifold Times earlier reported Brightoil redeeming all outstanding unconverted Listed Convertible Bonds with a principal amount of $9.6 million in full on 12 February 2018.

Related: Brightoil redeems $9.6 million in outstanding bonds


Published: 19 February 2018

 

Oil Price

Top Ports Price $/mt Change High Low Spread
Singapore 000.00 000.00 000.00 000.00 000.00
Fujairah 000.00 000.00 000.00 000.00 000.00
Rotterdam 000.00 000.00 000.00 000.00 000.00
Hong Kong 000.00 000.00 000.00 000.00 000.00
Antwerp 000.00 000.00 000.00 000.00 000.00
Top Ports Price $/mt Change High Low Spread
Singapore 000.00 000.00 000.00 000.00 000.00
Fujairah 000.00 000.00 000.00 000.00 000.00
Rotterdam 000.00 000.00 000.00 000.00 000.00
Hong Kong 000.00 000.00 000.00 000.00 000.00
Antwerp 000.00 000.00 000.00 000.00 000.00
Top Ports Price $/mt Change High Low Spread
Singapore 000.00 000.00 000.00 000.00 000.00
Fujairah 000.00 000.00 000.00 000.00 000.00
Rotterdam 000.00 000.00 000.00 000.00 000.00
Hong Kong 000.00 000.00 000.00 000.00 000.00
Antwerp 000.00 000.00 000.00 000.00 000.00

Metcore: Understand TR48 on the use of MFM

Taking a homogeneous approach on MFM systems places both the buyer and the supplier under risk without proper insurance.

BW supports the global implementation of mass flow meters

BW is proud to support the global implementation of mass flow meters for a more efficient, precise, and transparent bunkering process.