27-02-2025
Breaking Up BP Would Risk Its Profitable Trading Edge
Welcome to our guide to the energy and commodities powering the economy. Today, reporter Mitchell Ferman looks at one of the more profitable businesses at struggling BP Plc.
A peek behind the curtain – 'just a little one' – of BP Plc's strongest and most opaque business reveals why the British energy giant is hesitant to sell some parts of the company, no matter what Elliott Investment Management or any other shareholder wants.
BP trades more than 10 times the amount of oil it produces and manages more than eight times the refined products for which it has capacity, Executive Vice President Carol Howle said during a strategic reset presentation Wednesday. Those trades supply power for data centers and feedstocks for petrochemicals makers, she said.
