Why Has BP Sacked Four Employees?
Nov 05 2020 Read 631 Times
Following an internal investigation into dealings with China, BP has sacked four crude oil staff. The trading and operations employees were based in Shanghai and Singapore and were directly responsible for Chinese oil sales. According to sources, the employees were terminated on the grounds of unauthorised use of WeChat as a platform for engaging in commercial discussions.
The sackings come after several BP staff, including those dismissed due to misuse of WeChat, were named in a court document filed by CIMB. The prominent Malaysian bank called for the Singapore High Court to restructure the debts of Singapore-based company Hontop Energy and place it under judicial management.
BP forced to sell iconic London offices
It’s not the first challenge BP has faced this year, with the oil major also forced to sell its prominent London headquarters in the face of high debt and flailing oil prices. Purchased almost two decades ago when the oil industry was basking in optimism, the handsome Mayfair offices represented the wealth and power of BP. Now, the company is engaged in talks to sell off the high-profile real estate to help cover its debts. If the current deal with a Hong Kong department store operator goes ahead, BP could stand to earn a cool £235 million.
Australian closures on the horizon
BP’s Australian presence has also taken a hit, with the company recently announcing plans to close its Kwinana Refinery set off the coast of Western Australia. With a capacity of 150,000 barrels of oil per day, it’s one of the largest refineries in the country. Not only will a shutdown lead to hundreds of job losses, but it will also reduce Australia’s fuel independence and force the country to increase reliance on imports.
Brad Gandy, West Australian Branch Secretary at the Australian Workers' Union has slammed the decision as “disastrous and heartless” and has warned BP the organisation will be “working and implementing every lever we have to keep it open.” BP President of Australasia Frederic Baudry says that while the company “deeply regrets” the job losses and plans to “support our people through the transition” the Kwinana refinery is “no longer economically viable.”
The energy landscape is changing and companies such as BP are being forced to adapt to stay afloat. Find out more about the latest developments in ‘Versatile laser-based, open path gas detector sees gases - not faults’ featuring insight from Kevin Dean on behalf of MSA (UK).
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