SINGAPORE : UK oil giant BP has bought an equity stake in China
Aviation Oil (Singapore) Corp Ltd, a CAO company spokesman said on
Monday.
He told reporters that a formal announcement would be made soon
regarding the new investors although he declined to give any
details on the size of the stake.
Earlier this month, sources said four foreign investors including
BP were looking to taking a stake in CAO as part of a rescue
plan.
The jet-fuel trader lost more US$550 million trading oil
derivatives last year. - CNA /ch
