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BP taps Tibco for global energy trading project

Published on .

London--BP plc, the world's third-largest oil company, has entered a global energy trading development pact with Palo Alto, Calif.-based Tibco Inc. Tibco, a financial services e-trading specialist, will develop a b-to-b energy trading portal that will allow BP's oil traders to streamline trading and risk management processes. As energy markets deregulate, oil companies are working to develop e-trading platforms to make global trading easier and quicker. Companies including Enron Corp.--which is under financial duress and is being acquired by natural gas giant Dynegy Inc.--are also developing energy e-trading platforms.
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