Gunvor Founder Raises Stake, Expands Board
Trading house Gunvor's founder Torbjorn Tornqvist has increased his stake in the firm after a bumper profit year as he bought out some leaving partners and expanded the board to bring…
Trafigura Takes a Bet with North Sea Oil
Commodities trader Trafigura has seized the moment and taken a rare dominant position in the North Sea crude market over the past two weeks as oil demand jumped, trading sources said.A…
30+ Companies Compete for Guyana Crude Trading Deal
More than 30 companies, including commodities traders like Gunvor and Vitol as well as units of oil majors like Exxon Mobil and Royal Dutch Shell, submitted expressions of interest…
Saudi Arabia's Tanker Power Play Could Backfire
Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take…
Swiss, Brazil Try to Unravel Petrobras Affair
Crimefighters in Switzerland and Brazil pledged to intensify cooperation to resolve the sprawling corruption case linked to state oil firm Petrobras in which around 700 million Swiss…
Coal's Uncertain Future and Glencore's Output Cap
It's been weird in the coal world in recent days, with the world's largest shipper saying it's capping output, biggest seaborne buyer China putting restrictions on some imports, and…
Glencore's 2018 Oil Trade Volume dips 17 pct
Glencore's overall traded oil volumes fell 17 percent year-on-year in 2018 to 4.66 million barrels per day (bpd), according to the mining and trading firm's annual results.Crude saw…
Sonatrach Shortlists 4 Firms for Trading Joint Venture
Algeria's Sonatrach has shortlisted four firms, with only one to be selected, to set up a trading joint venture, the company's chief executive Abdelmoumene Ould Kaddour told reporters."Of…
Greece Approves Two Consortia for Hellenic Petroleum Bids
Greece on Monday approved two consortia to submit final bids for a 50.1 percent stake in its biggest oil refiner Hellenic Petroleum, its privatisations agency said.The consortia are: Glencore Energy with a unit of U.S.-based
Petrobras Fires Employee Accused of Corruption
Brazil's state-controlled oil company Petroleo Brasileiro said on Wednesday it had fired a Houston-based employee accused of participating in a corruption scheme involving bribes allegedly paid by trading giants including Gle
Major Traders Bribed Petrobras Staff -Prosecutors
Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro…
Execs of Big Oil Traders Knew of Petrobras Bribes
Brazilian investigators said on Wednesday that "top executives" of trading giants Vitol , Trafigura and Glencore had full knowledge that their employees paid millions in bribes to executives…
CEFC Paid Out Compensation After Rosneft Stake Deal Fell Through
CEFC paid almost 225 million euros ($257 million) in compensation to a consortium of Qatar Investment Authority and Glencore after the Chinese firm's deal to buy a stake in Russian oil firm Rosneft fell through…
World's Top Traders Divided on Oil Outlook as Iran Sanctions Loom
The world's biggest trading houses said on Wednesday they saw oil prices not falling below $65 per barrel and possibly breaking above $100 next year as U.S. sanctions on Iran reduce…
Glencore Mulls Integrated LNG Project in Philippines
Mining and trading giant Glencore is mulling an integrated liquefied natural gas (LNG) import project in the Philippines, a source familiar with the matter said.The project would be for a Floating Storage Regasification Unit
Hellenic Petroleum Workers Battling Selloff Block Suitors from Refineries
Workers at Hellenic Petroleum on Monday physically prevented suitors eyeing a majority stake in Greece's biggest oil refiner from entering two of its sites in protest at plans to privatise the utility…
Greece Shortlists Glencore, Vitol in Hellenic Petroleum Majority Stake Sale
Greece has shortlisted Anglo-Swiss Glencore and Swiss Vitol to submit a binding bid for a majority stake in the country's biggest oil refiner Hellenic Petroleum, its privatisation agency…
What Glencore-Tohoku Coal talk Impass Means for Market
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan's Tohoku Electric and Glencore to agree on an annual…
Glencore Announces $1 bln Share Buyback
Commodities trader and miner Glencore said on Thursday it would buy back shares worth up to $1 billion in a programme of purchases running to the end of 2018. Glencore said the programme will be split into two halves…
Glencore, Vitol Shortlisted in Hellenic Stake Sale
Anglo-Swiss Glencore Energy and Swiss Vitol will be qualified to submit a binding bid for a majority stake in Greece's biggest oil refiner Hellenic Petroleum, sources close to the process said on Tuesday.
