Oil Price Is BP’s Unlikely Ally as Trading Arm Boosts Profit
They do more than just pumps
Downstream Operations Key in BP, Total Earnings
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Low oil prices became an unlikely ally for BP Plc and Total SA during the first quarter as they boosted the profitability of their large trading operations.
Although better known for their oil fields, refineries and petrol stations, BP and Total together with Royal Dutch Shell Plc are also the world’s biggest oil traders, handling enough fuel every day to meet the combined consumption of Japan, India, Germany, France, Italy, Spain and the Netherlands.