China’s Brightoil on expansion trail

Hong Kong-listed Brightoil International Petroleum is setting up trading desks for fuel oil, distillates and crude in Singapore, Europe and the United States. It will have 85 in its global trading operations, from traders to support staff. Its biggest unit is marine fuels, with 31 personnel, 20 to be based in Singapore. The trading firm is expected to have a team of 17 cargo trading personnel each in Asia and Europe, while 20 trading staff have been targeted for its U.S. operations. The firm will be managed by a core team of seven, including CEO Quek Chin Thean, the former global head of BP’s fuel oil desk, and three vice-presidents, one of whom will oversee its global trading from Singapore. (January 7, 2011)