SINGAPORE - BP Singapore on Wednesday (March 21) inked a four-year agreement with Nanyang Technological University (NTU) to sponsor its International Trading Programme (ITP) that trains undergraduates for careers in the commodity trading sector.
The company said its involvement in the ITP demonstrates BP's continued and growing commitment to working with key government agencies like International Enterprise (IE) Singapore and the local universities to nurture and strengthen the future talent pool for the sector.
The agreement was signed at the official opening of the company's new office at Marina One in the central business district.
Speaking at the event, Senior Minister of State, Ministry of Trade and Industry and National Development, Dr Koh Poh Koon, said BP's industry expertise will be applied in planning NTU's academic curriculum, and providing internships to its undergraduates.
"This will contribute to the development of a strong talent pool to better enable trading companies to capture future growth opportunities," he said.
Dr Koh also noted that BP Singapore has also signed on for the Professional Conversion Programme (PCP), an IE Singapore initiative to help mid-career professionals pursue a career in international trading.
To date, the programme has successfully matched close to 90 professionals with trading companies, he said. Such initiatives will encourage more professionals to join the trading sector, he added.
Dr Koh also said that Singapore, which is the largest trading hub and pricing centre for oil products in Asia, expects to see continued growth in LNG trade and possibly even new trade flows in areas like carbon emissions and credits, with the rapid growth of renewables and move towards a lower carbon future.
"There are more than 45 international firms with LNG trading desks in Singapore, and we continue to welcome firms like BP to base their LNG operations here," he said.
Dr Janet Kong, CEO Eastern Hemisphere for BP Supply and Trading, said the company's investment in the new office demonstrates "our commitment to continue to position Singapore as the hub for the growth and expansion of our supply and trading business operations in Asia."
Mr Alan Haywood, CEO, BP Supply and Trading, added that the company, which first laid its roots here in 1964, "will play our part in cementing Singapore's role as the premier energy hub in Asia."