BP Faces Up to Asia’s Changing Product Markets

摘要

BP’s head of East of Suez trading is aware of the need to show patience with emerging markets as the company sets its sights on tapping into India’s rapidly growing oil demand. He is also philosophical about the end of a promising crude oil supply partnership with China’s top independent refiner after just one year. Amid the current supply glut, demand is key and most of the incremental growth is coming from Asia, making it a crucial - if diverse - market to win over, Andy Milnes, BP’s head of integrated supply and trading for the eastern hemisphere, tells Energy Intelligence in an interview. Although things move slowly in Asia, they do change, he explains: “One thing that Western companies have to build is institutional patience with emerging markets,” Milnes said in Singapore, the regional nerve center that oversees BP’s Asian strategy.