China’s Brightoil Shows Signs of Financial Stress

摘要

Brightoil Petroleum appears to be coming under growing financial pressure in what could be another case of a Chinese private energy company spreading its wings too fast too far. Brightoil’s difficulties are deepening just nine months after CEFC China Energy, one of the country’s largest private companies, started to crumble on the back of a corruption scandal and after it became deeply indebted - a warning sign for private energy companies that lack the deep pockets, or political support, of state-run oil companies (IOD Jul.25’18).