BP Traders Lost $100 Million in 2015 Africa Deals ‘Debacle’ (1)

BP Plc’s traders lost $100 million in a “debacle” of a deal with a West African commodities firm, according to details from a London employment lawsuit that offers a rare glimpse into the business on the oil giant’s trading floor.

BP bought crude oil and sold gasoline in a series of deals with Taleveras Energy that left the U.K. company exposed when Taleveras entered into insolvency procedures in 2015, a former senior trader at BP said in a legal filing. Traders then rushed to charter an oil tanker to collect oil cargoes in an attempt to make good the ...