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 the bigger decline of 22 percent to 2.58 million bpd…
Glencore Suspends Rusal-EN+ Share Swap due U.S. Sanctions
Swiss-based trader Glencore said on Tuesday it would not "at this time" be swapping its shares in Russian aluminium producer Rusal for Global Depository Receipts in EN+ due to U.S. sanctions on both firms. Foreign partners of Russian firms like Rusal, which was hit by new U.S.
Rio Tinto Sheds Another Coal Asset
Rio's second coal deal this week charts its future course. Rio Tinto is to sell its 75 percent stake in a Queensland project to Australia's Whitehaven Coal for $200 million, in its second deal this week to shed coal assets. Rio is also…
Glencore Acquires Rio Tinto's Hail Creek Coal Mine
Glencore consolidating in coal as Rio exits; Rio Tinto shares rise 0.9 pct, Glencore slips. Glencore is buying Rio Tinto's Hail Creek coal mine and the Valeria coal project in Australia for $1.7 billion, tightening the Swiss trading…
Glencore Hails Strongest FY Results Ever
Share price rises around 4 percent. Glencore Chief Executive Ivan Glasenberg hailed the group's results as its "strongest on record" on Wednesday, bolstered by a recovery on commodity markets and said it had the assets to meet future demand including from electric vehicles.
Sinopec: South Africa Gives Conditional Approval for Chevron Assets
South Africa will stick with China's Sinopec Corp as the preferred contender to buy Chevron's assets in South Africa and Botswana after it made a fresh commitment to future investments in the country, the Chinese oil major said on Thursday.
Hedge Fund bet on Glencore Backfires
Lansdowne Partners loses $100 million from short in 2017. London hedge fund giant Lansdowne Partners lost $100 million from a long-term bet against Glencore this year after the spectacular recovery of the miner took some by surprise.
Glencore Raises Marketing Guidance, Lowers Output
Analysts say Q3 production lower than expected. Glencore on Monday cut its output forecast for core commodities including zinc, but raised its marketing division's full-year earnings before interest and tax (EBIT) to between $2.6 billion and $2.8 billion…
Where's the Money? Oil Traders Ask as Peak Demand Looms
Traders still see opportunities in oil trading as Mercuria bets on power markets in U.S., China. For major trading houses that ship millions of barrels of oil every day, the prospect of diminishing fuel demand and a shift to renewable…
Gunvor to Grow Shipping, Partner with Others
One of the world's largest oil traders, Gunvor Group, plans to grow via ventures and could acquire stakes in businesses such as shipping or refining with partners, its founder Torbjorn Tornqvist told Reuters. Such ventures would be an…
Swiss Traders Grab $10 Billion Slice of LNG Market
Traders mopping up LNG glut, finding new emerging market buyers. Swiss trading houses are muscling in on the global market for liquefied natural gas, until now the preserve of energy giants, and expect to grab a $10 billion share of the rapidly growing business this year.
Rio Tinto recommends Yancoal coal offer over Glencore
Rio says Yancoal deal could be agreed more quickly; says Yancoal has improved offer. Rio Tinto selected Yancoal on Tuesday to buy its Coal & Allied division in Australia for $2.45 billion, surprising commodities trading giant Glencore which had put in a higher bid.
Glencore raises profit forecast for trading arm
Lifts operating profit forecast for trading division by $100 mln; coal prices spike in Q1 versus same time a year ago. Mining and commodities trading group Glencore has raised its operating profit forecast for the trading division this…
Putin Awards Medals to Buyers of Rosneft Stake
Russian President Vladimir Putin awarded state medals to executives with the Qatari investment fund, Swiss-based commodities trading firm Glencore and Italian bank Intesa Sanpaolo, according to a decree published on Monday. The Qatar…
Glencore Ready to Snap up Assets after Profit Rebound
Commodities trader and miner Glencore reported an 18 percent rise in 2016 profit on Thursday, buoyed by a rebound in raw material prices, and said it was well-placed financially for small acquisitions or a special dividend payout. Analysts said the results beat expectations…
Putin: Russia received Glencore, Qatar payment for Rosneft
The Russian state budget has received a payment from the Qatar Investment Authority (QIA) and commodities trader Glencore to pay for a stake in oil giant Rosneft, President Vladimir Putin said on Friday. Speaking at his annual end-of-year news conference…
Traders Charter LR2's fo Temporary Gasoil Storage
About 6-8 LR2s being used to store gasoil; traders likely capitalising on gasoil contango. Traders are temporarily storing gasoil on vessels in the waters off Singapore as they anticipate demand for the fuel to go up in the coming months, industry sources said on Thursday.