Sign up
Log in Sign up
Mon 21 May 2018, 12:35 GMT

Brightoil's Singapore CEO and head of bunkering steps down


Wang Wei decides not to seek shareholder re-election; confirms no disagreement with board.

Brightoil Gem and Wavemaster 3, pictured in the Singapore Strait.
Image credit: Flickr
Brightoil Petroleum (Holdings) Ltd has announced that Mr. Wang Wei, an executive director of the firm and chief executive officer of its Singapore subsidiary, Brightoil Petroleum (Singapore) Pte. Ltd., has formally notified his employers that he will be retiring from office and will not be seeking re-election by shareholders.

According to Brightoil, Wang entered into a three-year Service Agreement with Brightoil in May 2015, and ceased to be an executive director of the company with effect from May 18, 2018, and was no longer CEO of the Singapore business from May 21, 2018.

Wang, who has more than 30 years' experience in the oil and gas industry, was in charge of Brightoil's International Trading & Bunkering (ITB) division as well as the leasing and operation of Brightoil's oil storage facilities.

"Mr. Wang has confirmed that he has no disagreement with the Board and there are no matters in relation to his retirement that need to be brought to the attention of the shareholders of the Company," Brightoil said.

"The Board would like to express its appreciation to Mr. Wang for his contributions to the Group throughout his term of office," Brightoil added.

The development means that Brightoil's board has been reduced to three executive directors: Dr. Sit Kwong Lam (chairman), Tang Bo and Tan Yih Lin.

The list of non-executive directors (Dai Zhujiang) and independent non-executive directors (Kwong Chan Lam, Lau Hon Chuen and Chang Hsin Kang ) remains unchanged.

Maya Cosulich vessel at the Port of Ceuta during welcome ceremony. Vilma Oil Med deploys methanol-capable bunker tanker at Ceuta  

Maya Cosulich can carry methanol and biofuels, features dual-fuel capability and mass flow meter technology.
Claudene Sharp-Patel, Lloyd's Register. Anemoi Marine Technologies appoints Lloyd’s Register technical director to oversight committee  

Claudene Sharp-Patel brings maritime operational expertise to guide wind-assisted propulsion development.
Yanmar hydrogen engine test facility render. Yanmar to build hydrogen engine test facility in Japan by 2029  

Japanese engine manufacturer acquires land for new factory to develop next-generation marine fuel technologies.
M/T Aristotelis II vessel. Capital Ship Management takes delivery of LNG-ready VLCC from Chinese yard  

The 307,000-dwt Aristotelis II features energy-saving devices and scrubber technology.
Anthi S Tsigkou, Flex Commodities. FLEX Commodities appoints Anthi S Tsigkou as general counsel  

Dubai-based trader brings in maritime law specialist with more than 15 years of industry experience.
RINA logo. RINA releases white paper on low-carbon fuels for maritime and aviation decarbonisation  

Classification society examines biofuels, hydrogen and e-fuels as regulatory frameworks accelerate compliance timelines.
Rob Mortimer, CEO of FuelRe4m. Fuelre4m fuel treatment achieves 8.7% consumption cut in Voyage Marine engine trial  

Re4mx Diesel product also delivered 5% bollard pull increase in 12-hour test on twin-engine vessel.
LPC and Gram Marine launch operations in Argentina graphic. Gram Marine delivers first marine lubricants in San Lorenzo  

Operation follows recent strategic partnerships with LPC and Servi Río.
Halten Bulk wind-assisted vessel render. Halten Bulk orders wind-assisted bulk carriers with rotor sails from Chinese yard  

Norwegian operator contracts two vessels with options for two more at SOHO Marine.
IBIA and Baltic Exchange logo side by side. IBIA introduces enhanced KYC framework for membership applications  

Trade association to use Baltic Exchange platform for sanctions screening and company verification.




 Recommended