BP registers as swap dealer
BP registers its US-based energy trading subsidiary as a swap dealer, becoming the first oil and gas major to opt for dealer status under Dodd-Frank
BP Energy Company, the Houston-based natural gas and power trading unit of UK energy giant BP, has registered as a swap dealer under the Dodd-Frank Act, Energy Risk has learned. The move makes BP the first oil and gas major to seek swap dealer status since the registration process began on December 31.
“Having this in our toolbag will continue to give us a leading position. If we did not register, I think we would lose ground,” says Orlando Alvarez, president of BP Energy Company.
Alvarez and
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