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Thu 15 Jul 2010, 09:59 GMT

BP replaces fuel oil, marine fuels staff


Oil major replaces key staff on its fuel oil and marine fuels teams in Singapore.

BP has replaced key staff on its fuel oil and marine fuels teams based in Singapore.

The news follows a wave of resignations in recent weeks, which included former BP global fuel oil head Quek Chin Thean and ex-Asia team leader Edmund Lau. Other members of the trading team and support staff also left the oil major and are understood to be joining Brightoil Petroleum.

BP has appointed Marcus Cooper as new global fuel oil trading head. He was previously employed as the oil major's director of crude trading and was also in charge of BP's global gasoline trading operations in the United States.

The new head of BP's regional fuel oil desk is experienced trader Stephen Ng and the new leader of the Asia marine fuels division is Carlos Torres.

In addition to the three key appointments, BP has also moved two junior staff into the Asia fuel oil desk as traders, according to market sources.

BP is also understood to be looking to fill some of the remaining vacancies, particularly for its marine fuels section, which could include external appointments.

BP has been the leading supplier in Singapore for the past seven years. Bunker sales in Singapore - the world's leading bunker port - reached a new record of 36.5 million tonnes in 2009 and are on course to break through the 40 million tonne barrier this year following sales of 20 million tonnes during the first six months of 2010.

The oil major is estimated to have a market share of approximately 10 percent of marine fuel sales in the city-state. It has also been a key player in the fuel oil cargo trading market for more than a decade.

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