It is reported that Brightoil Petroleum Holdings a private company mainly engaged in the global marine bunkering chain business, oil storage, marine transportation and oil and gas production obtained a loan of USD 4 billion from the Hong Kong branch of China Development Bank.

CDB Hong Kong will support Brightoil on acquisitions and in the financing of its purchases of ocean tankers and provide credit guarantees to Brightoil to expand the latter oil trading business.

Mr Xue Guanglin Chairman and CEO of Brightoil said the company does not exclude the possibility to listing on the A share market.

(Sourced from Shanghai Securities News)