REFILE-BUZZ-BP trading unit makes loss in fourth quarter

Tue, 07th Feb 2017 12:46

(Refiles to amend typo in final bullet point)

Feb 7 (Reuters) - * BP's trading unit made a loss in Q4,mainly due to an unnamed disputed contract

* Remarks were made by BP's Chief Financial Officer BrianGilvary after Q4 results publication

* Energy trading business exceeded expectations over thefull year 2016

* Over the past five years, BP's trading business broke evenor made a loss in only 3-4 quarters

* BP did not have a significant trading position going intothe fourth quarter of 2016 due to uncertainty around oil pricesahead of the OPEC meeting at the end of November

* BP sees arbitrage and blending opportunities in oiltrading, as well as contango in gasoline market (Reporting by Karolin Schaps)

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