BP sees trading benefits from oil boom in the Americas (Reuters)
Ron Bousso and Dmitry Zhdannikov /Reuters
London.- Oil major BP expects its trading operations to benefit from growing global crude trade on the back of abundant U.S., Canadian and Brazilian production and rising energy demand in Asia, a top BP executive said.
(Photo: Reuters)
Tufan Erginbilgic, the head of BP's downstream division that includes one of the world's most powerful trading desks, told Reuters he wanted to expand BP's trading activities using long-term deals on third-party oil and products.
U.S. shale oil production using fracking technology has turned the world's largest oil consumer into an exporter of crude and products, while Canada is developing its vast oil sands deposits and Brazil is developing huge offshore fields.
