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Hong Kong: Brightoil Petroleum announces new Chairman and acting CEO

31 May 2019

Hong Kong-listed Brightoil Petroleum (Holdings) Limited on Thursday (30 May) made several changes to its board.

Tang Bo, presently an executive director and member of the Executive Committee of Brightoil, has been appointed as the Chairman, an acting CEO and a member of the Nomination Committee and Remuneration Committee of the Company with effect from 3 May 2019.

Tang had held various positions in the Shenzhen Brightoil Group. When he was the Vice President of Shenzhen Brightoil Group, he was responsible for external investment and business development. He also serves as a director of certain subsidiaries of Brightoil.

Xie Wenyan, a former General Manager of PetroChina Company Limited from September 1999 to October 2016, has been appointed as an executive director and member of the Executive Committee of the Company with effect from 3 May 2019; Xie will be responsible for Brightoil’s upstream oil and gas field business.

Tan Yih Lin, meanwhile, resigned as an executive director, a member of Nomination Committee, Remuneration Committee and Executive Committee, Group Chief Financial Officer and Company Secretary of Brightoil; he had ceased to act as an Authorised Representative of Brightoil with effect from 25 May 2019.

The former Chairman and Executive Director of Brightoil, Dr Sit Kwong Lam, left the company in April after being declared bankrupt by the High Court of Hong Kong. He undertook personal guarantees worth a total of approximately US $1.4 billion.

A chronologically organised list of articles concerning Brightoil’s potential debt reorganization is below:

Related: Brightoil former Chairman undertook $1.4 billion in personal guarantees
RelatedOfficial: Dr Sit Kwong Lam leaves Brightoil Petroleum Holdings
RelatedHong Kong High Court issues bankruptcy order against Brightoil Chairman
RelatedBrightoil aggregate debt has reached approximately $1.9 billion, it updates
RelatedBrightoil creditor claims amount to US $250 million, potential debt reorganisation
RelatedBrightoil to defend against winding up petition at Hong Kong court
RelatedSingapore: Brightoil to apply for six-month moratorium order at High Court
RelatedBrightoil oilfield project secures USD $700 million CNOOC funding
RelatedBrightoil: Plans to sell Zhoushan oil storage terminal, 15 vessels
RelatedShell to offload crude oil cargo from arrested “Brightoil Lion” tanker
RelatedBrightoil VLCC and Aframax tanker arrested at Singapore port
RelatedSingapore: Players to get fuel oil cargoes back from Brightoil bunker tankers
RelatedSingapore: Petrolimex v Brightoil case progresses to Pre Trial Conference
RelatedSingapore: Brightoil bunker creditor list growing with new firms
RelatedSingapore: Petrolimex owed over USD $30 million by Brightoil
RelatedBrightoil signals return to the shipping sector, starts reorganisation of debt
RelatedSingapore: Brightoil bunker tanker fleet placed under Sheriff’s arrest
RelatedSingapore: Toyota Tsusho Corporation seeking $21 million from Brightoil
RelatedQatar National Bank seeks USD $21.59 million debt from Brightoil

Photo credit: Brightoil Petroleum (Holdings) Limited
Published: 31 May, 2019

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