BP Singapore Oil Traders Leave After Probe Into Disputed Deals

(Bloomberg) — Four Singapore-based crude oil traders from BP Plc left the company after the conclusion of internal investigations into their involvement in several disputed deals, said people with knowledge of the situation.

a close up of a green wall: A BP Plc logo sits on a forecourt roof at filling station in Cambridge, U.K.

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A BP Plc logo sits on a forecourt roof at filling station in Cambridge, U.K.

The people — comprising of a manager in the Asia trading team, two oil traders and an originator — were placed on leave in July after their names were mentioned in court documents filed by banks that alleged suspicious transactions between trading houses. They left the company on Sept. 30, said the people, who asked not to be identified as the information is private.


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Read: BP Singapore Oil Traders Placed on Leave Amid Disputed Deals

A BP spokesperson declined to comment on the matter when contacted by Bloomberg News.

The trading staff affected hold portfolios focused on the company’s oil sales to Chinese customers, while the manager oversees crude trading in the region.

The company also asked employees to stop using China’s WeChat app on their work phones as a communication method with market participants and counterparts. The recommendation follows a similar move by U.S. oil major Chevron Corp. in late-September.

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