A great example of diversify, diversify, diversify. Here in Singapore, BP has pulled entirely out of the oil business, but remains one of the largest employers, shifting the focus from oil trading to knowledge trading. Their income here comes from legal services, IT, environmental services, et cetera.
A good move, given the volatility of the oil markets, which ain’t gonna stabilize anytime soon.
In other news, 3M (Minnesota Mining and Manufacturing) isn’t doing much mining anymore.
Well, while BP in Singapore may have appeared to dropped the oil focus, you would be sadly mistaken. There are VERY much involved in oil, and world wide (not that this is a bad thing).
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