October 31, 2018 / 3:01 AM / 18 days ago

MOVES-Crude oil traders quit Chinese trading firm Pacific Commerce

SINGAPORE, Oct 31 (Reuters) - Senior crude oil traders Bruce Wu and Shen Fan have resigned from their positions in Singapore with China’s Pacific Commerce, the trading arm of independent refiner Dongming Petrochemical, a senior company official said on Thursday.

Pacific Commerce is in the process of hiring traders to replace the pair, said Dongming director Zhang Liucheng.

The firm still has another Singapore-based senior crude oil trader Jiang Minchuan, formerly of CNOOC.

Wu and Fan confirmed their resignations, but declined to comment on where they would be heading next.

The pair helped set up Dongming’s trading arm in Singapore in 2015 when the company first received crude import quotas from Beijing. (Reporting by Florence Tan Editing by Joseph Radford)

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