Amadeusz Juskowiak

Standard oil srd to form financial unit

Standard Oil Co and BP North America Inc said they plan to form a venture to manage the money market borrowing and investment activities of both companies

BP North America is a subsidiary of British Petroleum Co Plc BP which also owns a 55 pct interest in Standard Oil

The venture will be called BPStandard Financial Trading and will be operated by Standard Oil under the oversight of a joint management committee