Reuters scoops rivals again on BP staff movements in fuel oil team

Reuters scored an exclusive on the staff movements in BP after scooping rivals with the series on the resignations in the oil major’s global fuel oil and Asian bunkers trading teams. We reported that that BP had moved to replace the bulk of the vacated positions with internal personnel and is seeking the remainder via external hires. News of the replacements provided some clarity to the market on BP’s trading intentions post the mass departures, which had stirred concerns in the industry. The major had been the largest fuel oil trader in Asia for the past decade and the top bunker supplier in Singapore, the world biggest marine fuel market. But with the new team in place it remains to be seen if BP would continue to be a major market maker.