Thursday, May 23, 2019

Glencore News

Swiss, Brazil Try to Unravel Petrobras Affair

© Celso Pupo / Adobe Stock

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

File Image: AdobeStock / © Leonid Eremeychuk

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

File Image: CREDIT AdobeStock / © Jose Gill

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

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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

© Celso Pupo / Adobe Stock

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

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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

Photo: Hellenic Petroleum

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

File Image (CREDIT: AdobeStock / © Leonid Eremeychuk)

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

File Image (CREDIT: AdobeStock / © Kasto)

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.

Glencore Gets U.S. Subpoena on Compliance with Money-Laundering Laws

File Image (CREDIT: AdobeStock / © Renaschild)

U.S. demands documents on business in Nigeria, DRC, Venezuela; Glencore shares fall as much as 13 percent. U.S. authorities have demanded the U.S. arm of Glencore Plc hand over documents relating to its business in Nigeria…

Europe Distillates-Cracks Rise Despite Wave of Imports

Benchmark diesel barge refining margins in northwest Europe rose at the start of the week despite plentiful imports from Asia, the Middle East and the United States. Recent highlights…

Colombia Coal Output falls 11.7%

Colombia, the world's fifth-largest exporter of coal, produced 19.6 million tonnes in the first quarter, down 11.7 percent from output the year before, the Energy and Mining Ministry said in a statement on Wednesday.

UN Seeks Traders' Help Enforcing North Korea Sanctions

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A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said.The U.N.