SINGAPORE (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. Continue reading “In mammoth task, BP sends almost three million barrels of U.S. oil to Asia”
