Oil Trading Trafigura

Global commodities trader trafigura is under investigation by us authorities for alleged corruption and market manipulation relating to oil trading the guardian has learned.
Oil trading trafigura. Trafigura group reported a 27 per cent gain in half year net income as the commodities trading giant benefitted from supply and demand disruptions created by the coronavirus pandemic. It is the world s second largest private oil trader after vitol and the world s largest private metals trader. Vitol and trafigura have a key vantage point over the global petroleum market as top oil traders. This disruption in market conditions creates volatility on which trafigura managed to thrive chief financial officer christophe salmon said.
11 jun oil trader trafigura thrives amid virus as profit jumps 27. Reaped record profits from oil and metals trading this year helping the commodities trader start paying down its heavy debt load and clean up its balance sheet. For trafigura it was the first full year of trading as an integrated gasoil fuel oil and bunker business. The world s second biggest independent oil and metals trader said net income climbed to us 542 million helped by a record performance from its oil trading division.
The commodities and futures trading commission cftc is leading a far reaching probe into the activities of the oil and metals trading house including its operations in south america. Headquartered in singapore trafigura is legally registered in singapore. Is a multinational commodity trading company founded in 1993 that trades in base metals and energy. Global commodities trader trafigura is under investigation by us authorities for alleged corruption and market manipulation relating to oil trading the guardian has learned.
We decided to merge these operations in 2018 in preparation for imo 2020. Trafigura is unlikely to be the only company leery of doing business with rosneft trading and more pain may be in store for the company that stands accused of allowing venezuela s oil trade. Trafigura manages one of the largest middle distillates books across its global network. Every day the two trading houses handle nearly 15 million barrels of crude and refined products.
This allowed us to approach the market in a cohesive client focused manner to the point where we are now one of the leaders in supply of rmg fuels specification to some of the world s largest bunker consumers. We trade the fullrange of distillates from low to high sulphur.