Brightoil expects significant loss

Hong Kong: Brightoil Petroleum (Holdings) Limited predicts that the group has recorded a significant loss for the first three quarters of this year based on a preliminary assessment.

Due to the depressed shipping industry and decreasing bunker demand, the group’s major business of international trading and bunkering and marine transportation were led to lower margin and great loss, according to the company’s announcement.
Brightoil will still to focus on the development of its key businesses and try to reduce operating costs and wait for the recovery opportunities of the industry, the company said.  [05/11/12]

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