{"id":373961,"date":"2020-09-17T11:16:51","date_gmt":"2020-09-17T05:46:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=373961"},"modified":"2020-09-17T12:16:27","modified_gmt":"2020-09-17T06:46:27","slug":"bp-lifts-the-veil-of-secrecy-on-big-oil-trading-profits","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/bp-lifts-the-veil-of-secrecy-on-big-oil-trading-profits\/","title":{"rendered":"BP lifts the veil of secrecy on big oil trading profits"},"content":{"rendered":"<p>BP Plc offered a glimpse of the profitability of its huge and secretive trading arm, suggesting it makes annual returns of as much as $2.5 billion.<\/p>\n<p>The revelation, which came during presentations this week about the company\u2019s clean energy plans, follows the emergence of trading in the first half of the year as one of the few bright spots for BP and its peers. The operations brought a torrent of cash that partly offset the impact of the coronavirus crisis on oil prices and energy demand.<\/p>\n<p>BP\u2019s in-house trading business has a \u201clong track record&#8221; of boosting the company\u2019s return on average capital employed (RoACE) by \u201cclose to&#8221; 2 percentage points, according to chief executive officer Bernard Looney.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BP Plc offered a glimpse of the profitability of its huge and secretive trading arm, suggesting it makes annual returns of as much as $2.5 billion. The revelation, which came during presentations this week about the company\u2019s clean energy plans, follows the emergence of trading in the first half of the year as one of the few bright spots for BP and its peers. The operations brought a torrent of cash that partly offset the impact of the coronavirus crisis on oil prices and energy demand. BP\u2019s in-house trading business has a \u201clong track record&#8221; of boosting the company\u2019s return [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-373961","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/373961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=373961"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/373961\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=373961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=373961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=373961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}