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 BP/Standard Financial Trading
and will be operated by Standard Oil under the oversight of a
joint management committee.

 Reuter
