BP to shake up trading arm after profits tumble

City A.M. Reporter
Oil major BP is restructuring its trading unit into a leaner and nimbler outfit in the face of eroding profits, the head of the unit says in an internal document obtained by Reuters,

The document from Paul Reed, chief executive of the trading arm, said the company sees a decline in its traditional business but growth in newer markets, especially China, India, and new emerging supply basins in West Africa and Brazil.