SINGAPORE - Brightoil Petroleum has hired a new head of fuel oil trading in Singapore, three months after veteren trader Edmund Lau left the position, sources closed to the matter said on Tuesday.
Former FAL Oil and Koch fuel oil trader Ong Eng Hian will join the Hong Kong-listed company in April, the sources said. The company did not immediately respond to an email seeking comment on the matter.
Brightoil is the third-largest marine fuel supplier by volume in Singapore, which is the largest bunkering port in the world.
In the second half of 2012, the company suffered a 35 per cent drop in revenue and gross profit from a year earlier, with sales of petroleum products dropping 27 per cent.
Brightoil was hit by seven senior staff departures in the same six-month period.