December 7, 2016

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Exclusive: In mammoth task, BP sends almost three million barrels of U.S. oil to Asia (Florence Tan, 12/07/16, Reuters)

Oil major BP (BP.L) is shipping almost three million barrels of U.S. crude to customers across Asia, pioneering a lengthy and complex operation likely to become more popular after OPEC last week announced deep production cuts.

BP's efforts, involving one of the world's longest sea routes, seven tankers and a series of ship-to-ship transfers, underscore a desire among oil traders to develop new routes to sell swelling supplies of cheap U.S. shale oil to Asia, the world's biggest consumer region.

Posted by at December 7, 2016 1:23 PM

  

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