BPCL plans oil-trading arm in Singapore

Bharat Petroleum Corp. Ltd. (BPCL) plans to start an oil-trading arm in Singapore, in an effort to become a price maker and to capture export markets as it boosts refining capacity. Company officials said on March 5 that an independent trading wing, common among global oil majors but unusual for an Indian refiner, will help it maximize revenues and manage commodity risk as India becomes a global refining hub. (March 5, 2007)