Brightoil Petroleum Holdings Limited provided consolidated earnings guidance for the six months ended December 31, 2012. The group is expected to record a material loss for the six months ended December 31, 2012 as compared to a profit in the corresponding period of the previous year. The Board considered that the loss reflected in the 2013 interim result was mainly due to the depressed market conditions in the shipping industry and decreasing bunker margins.

As a result, the group's International Trading and Bunkering business has experienced a lower profit margin and suffered an adjusted gross loss.