February 23, 2011 [TodayIR] - Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended 31 December 2010. Revenue surged 109% to HK$12.51 billion. Gross profit increased 17% to HK$793.4 million.
Dredging and reclamation works for phase 1 of our oil storage and terminal facilities in Dalian and Zhoushan were launched in June and July 2010 respectively. Construction works for the main facilities, including terminals, oil tanks, pipelines, roads etc., of both projects are expected to be commenced in mid-2011, the storage and terminal facilities will be put into operation by phases upon completion.
Besides serving as the essential logistical hubs to support our ISB operation, the Group also plans to lease part of the storage facilities to third parties to generate stable recurrent income in the future.
