The board of UK oil giant BP has approved a plan to invest US$45.1 million in Singapore-listed jet-fuel trader China Aviation Oil (Singapore), the Wall Street Journal reported. BP, which is one of the company's biggest creditors, plans to take as much as a 22.78% stake in CAO provided that Temasek, the Singapore government's investment arm, also comes on board as an investor. CAO's state-owned parent company, China Aviation Oil Holdings, has said that it and an unnamed investor will inject US$130 million into the company so it can service debts related to the US$550 million losses incurred trading oil derivatives last year.