In a 2009 State Department cable from Yemen, obtained by WikiLeaks and provided by a third party to Reuters, sources told U.S. diplomats that the company used intimidation tactics including kidnapping threats to buy Yemeni crude at below market prices. Mercuria vient dtre cit dans une affaire de corruption au Brsil qui concerne aussi trois de vos concurrents suisses (Vitol, Trafigura et Glencore). A master of physical markets, it owns a 4,000-mile U.S. pipeline network and three of the countrys most profitable refineries. OIL. Established in 2004, Mercuria has become one of the largest integrated energy and commodity trading companies in the world. Rich, now 76, would later end up on the FBIs most-wanted list for alleged tax evasion and trading oil from Iran after the revolution in 1979. Ds que vous vous rveillez le matin, vous rflchissez, cest un truc qui tourne 24heures sur 24, une remise en cause constante. For Gunvors rivals, too, favoritism is also an overly simple explanation of the companys success. In 1937 the Chicago Board of Trade forced the company to sell its corn contracts and Secretary of Agriculture Henry Wallace accused it of trying to corner the U.S. corn market. No suggestions of wrong-doing were leveled against Dunand or Jaeggi. Like Vitol, he says, Gunvor has no plans to follow Glencore into an IPO. In 2006 a tanker it chartered dumped toxic waste in Ivory Coast, allegedly making thousands ill and killing up to 16. 2004:Fondation de Mercuria avec Daniel Jaeggi. Tout peut se dcider en deux semaines, dautres fois en un an, tout dpend de la complexit, du risque, de la volont de lautre partie. Trafigura took legal action to keep a report about the Ivory Coast incident out of newspapers, but details were eventually made public. It doesnt always work. . ENERGY TURNOVER: $75 billion 2011 company estimate (2010, $47 billion). After dropping out of school he began his career at 15 in a metals scrap yard in the UK. Le pouls de lconomie suisse - retrouvez les derniers chiffres conomiques cls dcrypts en graphiques, tous nos articles consacrs aux matires premires, Marco Dunand: La concentration du ngoce se poursuit, Mercuria: Dans le trading, les cots des transactions pourraient diminuer de 30 40% avec la blockchain, Des ngociants Genve sallient pour imposer la blockchain, LEurope des terres rares accentue son retard, Lor de Duba suscite de nouveau la controverse en Suisse, Le plus grand groupe minier du monde drague des tudiants Genve, Marco Dunand, patron de Mercuria: Notre approche est assez intellectuelle. For a full comparison of Standard and Premium Digital, click here. Son directeur gnral et cofondateur, Marco Dunand, explique les dessous de cette stratgie. Twitter. (Additional reporting by Jean-Francois Rosnoblet), WHO: Bunge, founded 1818 by Johann Peter Gottlieb Bunge in Amsterdam. Overnight on Wall Street is morning in Europe. 5,803 executive movements have been recorded in the last 12 months. His partners seized control of the firm in 1994, renaming it Glencore. As the company expanded, it has hired traders and investment professionals from Morgan Stanley, Goldman Sachs, Louis Dreyfus Group[14] and Electrabel in London. (Bloomberg) In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the worlds fourth-largest commodity trader with revenue topping $100 billion last year. Filings show that while Dunand and Jaeggi's stakes in Mercuria's holding company increased, Shenouda's decreased sharply between mid-2021 and the end of last year. Its one of the largest physical suppliers of metals including zinc, lead and nickel, and a leading grain exporter from Europe, the former Soviet Union and Australia. with 37 additional offices worldwide. Le monde doit baisser dintensit carbone. Hes well on the way. Premium access for businesses and educational institutions. Fred Koch returned to the United States with a visceral hatred for Joseph Stalin and communism. With their connections and inside knowledge -- commodities markets are mostly free of insider-trading restrictions -- trading houses have become power brokers, especially in fast-developing Asia, Latin America and Africa. Noble has grown by acquiring troubled competitors. A few traders seized the chance to buy what amounted to almost all the available supply. Marco Dunand | Mercuria Energy Group | Swaziland Swiss native and oil industry professional; obtained a degree in Economics and Management from the University of Geneva. These days, Olam has upstream operations in everything from a coffee plantation in Laos to a rice business in Thailand, from almonds in Australia to cashews in Africa. Monitor your investments 24 hours a day, around the clock from around the globe. Contradiction? He has made a fortune. See here for a complete list of exchanges and delays. The Chinese state is funding nimble trading firms to do its bidding. With Kochs easy access to tankers and pipelines, the strategy locked in profits of up to $10 a barrel with virtually no risk, traders said. It became the first company to supply gasoline to the energy ministry after the war in 2003, and now is both a buyer of Iraqi crude and supplier of refined products. Grain traders welcomed our offer to lend a diplomatic hand, the ambassador wrote. Elman, the companys chairman, holds around 30 percent of the company. Dunand says he and Jaeggi have no intention of selling the company they have built so swiftly, or launching an initial public share offering (IPO). I have known the citizen Timchenko for a very long time, since my work in St Petersburg, Putin told a group of Russian writers. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. By Xeba73 @ 2014-06-02 03:16:42. The report also details sales by a foreign Koch subsidiary of petrochemical equipment to Iran, which is subject to U.S. sanctions, and a history of criminal or civil penalties for oil spills, a deadly 1996 U.S. pipeline blast, and under-reporting of emissions of benzene, a carcinogen, from a Texas refinery in 1995. We went to the Ivory Coast on a mission to help the people of Abidjan, and to find ourselves arrested and in jail as a result has been a terrible ordeal for ourselves and our families, said Dauphin. Mabanaft is aiming to further diversify its product portfolio by pursuing a controlled geographic growth strategy, is all communications manager Maren Mertens is able to offer on the subject. Disons plutt quon a une certaine humilit. Un trader, cest un peu la mme chose: il ne demande pas la permission quand il doit acheter ou vendre. Journalists in 50+ countries follow the constant flow of money made and lost in oil & gas while Pinterest. Cargill, as well as fellow U.S. commodity trading firms Bunge and ADM, agreed to undertake a public relations effort with the goal of creating a political problem for the Government of Ukraine, according to a 2007 diplomatic cable by the U.S. ambassador to Ukraine that was obtained by WikiLeaks and made available to Reuters by a third party. Nigerias Petroleum Product Pricing Regulatory Agency (PPPRA) said that in one transaction the amount of fuel submitted for subsidies did not match the actual quantity delivered. For cost savings, you can change your plan at any time online in the Settings & Account section. A large part of Glencores market value comes from its listed stakes in other companies, most notably a 34.5 percent holding in Swiss miner Xstrata. Est-ce quon vise une stabilit du prix 75dollars ou plutt 60? Nous avons simplement envie de jouer un rle pour rpondre aux besoins que cre cette transition. Ce sont des investissements trs importants, que je prfre ne pas chiffrer. But since White Plains, New York-based Bunge set up in China in 1998, many have switched to soy pellets. Vous aviez dj financ le trader en dtresse Noble, on vous voit investir en Afrique du Sud, en Argentine, en Tunisie Quelle est la logique de toutes ces transactions? Je ne peux absolument pas m'exprimer sur ce point. Avez-vous un commentaire ce sujet? Arcadia has faced controversy before. With nearly $10 billion worth of cash and bank deposits on Wilmars balance sheet, Kuok is unlikely to stop his expansion drive there. Hin Leong is joining hands with several Chinese firms to build the proposed Singapore refinery, even as it seeks to build a larger oil storage facility in the South Chinese province of Fujian. En ce moment, a se passe au tribunal, cest trs complexe, avec des avocats et des contrats qui font des centaines de pages. Parce que rien nest jamais acquis. ADM was fined $100 million by the U.S. government for antitrust violations. We dont hear much about them yet, but in time we will.. La logique, cest que le monde a besoin de plus en plus dnergie tout en devant baisser son intensit carbone. analyse how our Sites are used. Markets never sleep, and neither does Bloomberg News. 2018: Dsign CEO de lanne dans le trading dnergie par Gulf Intelligence. While Vitol would not comment, industry talk has it that none of its senior employees, including CEO Ian Taylor who joined from Shell in 1985 or long-timer Bob Finch who heads Vitols coal business, holds more than 5 percent of the company. It has trading offices in China, palm plantations and chemical plants across Asia, and silos in Brazil. Switzerland-based Glencore cast aside its famed secrecy earlier this year with a record market debut that turned its executives into paper millionaires and propelled the firm into the headlines. Koch declined to discuss its trading with Reuters. Jankielewicz and Smolokowskis company, J+S Group, traded Russian crude oil and was a leading supplier of oil to PKN Orlen, Polands top oil refiner. Analysts and commentators focused on differences between the forty-something, Russian-born Margarita Louis-Dreyfus and chief executive Jacques Veyrat over how to develop the 160-year-old family firm and whether to list its shares or seek a merger deal. Mercuria Energy Group Ltd. head trader and one-time heir apparent Magid Shenouda has sharply reduced his equity stake, suggesting a possible shift in relationship with the other two men who . For many commodities traders, the most profitable ploy has been the squeeze, which involves driving prices up or down by accumulating a dominant position. Thats equal to the combined oil exports of Saudi Arabia and Venezuela. In 2006, J+S was raided by the Polish authorities in connection with an investigation into oil trading in Poland. Arcadias chief executive in Singapore, Stephen Gibbons, denied the contents of the cable and told Reuters the kidnapping allegations were ludicrous. The company handles 3 percent of the worlds daily oil consumption. That helped balance the reputational damage of being fined -- along with many other companies -- for paying surcharges a decade ago to Saddam Husseins Iraqi oil ministry during the U.N. oil-for-food program. WHO: Cargill, founded 1865 by William Wallace Cargill at the end of the U.S. Civil War, WHERE: Minneapolis, Minnesota WHAT: Grains, oilseeds, salt, fertilizers, metals, energy, TURNOVER: $108 billion (2010) CEO: Greg Page STAFF: 130,000. And its not just the Europeans. Our Standards: The Thomson Reuters Trust Principles. Arcadia often trades large volumes of oil from Nigeria and Yemen, where it boasts close relationships with state oil firms. Glencores initial public offering was the largest globally this year, attracting huge publicity as well as arguments that it marked the top of the commodities cycle. (Jessica Donati, Christopher Johnson, Ikuko Kurahone, Richard Mably, Dmitry Zhdannikov reported from London, Gus Trompiz from Paris, Caroline Copley from Zurich, Emma Farge from Benghazi, Karl Plume and Christine Stebbins from Chicago, Hugh Bronstein from Buenos Aires, Joshua Schneyer from New York, Luke Pachymuthu, Harry Suhartono and Naveen Thukral from Singapore; Editing by Richard Mably, Simon Robinson and Sara Ledwith), This story October 21 story was corrrected in the 17th paragraph to reflect that Trafigura paid a U.S. Customs fine on an Iraqi crude cargo in 2001, but denied wrongdoing; clarifies language on Trafiguras 2009 legal action to prevent a report on toxic waste dumping in Ivory Coast from being published. The warehouses seem to have an infinite capacity to absorb metal, but a very small capacity to release it, said Nick Madden of Novelis, the worlds top rolled aluminum producer. Citing concerns over potential shortages and rising bread prices, Kiev had placed export quotas on cash crops and temporarily stopped granting export licenses for corn, wheat, barley and other grains. Vous tiez trs occup ces jours avec la runion de lOPEP, qui a dcid de couper sa production pour faire rebondir le prix du ptrole. In April the company dodged NATO bombs and a naval blockade and sent an oil tanker into the battered Mediterranean port of Tobruk to extract the first cargo of premium crude sold by rebels at the helm of a breakaway Libyan oil company defying Muammar Gaddafi. We havent seen this pace of population growth in our living memory, Verghese told a conference in Singapore late last year. Linformatique aide pour matriser ces problmes de corruption ou de manipulation de march. Des phnomnes extraordinaires deviennent ordinaires, et a va une vitesse Mais, en Afrique du Sud, beaucoup de gens sont encore privs dlectricit et ils sont assis ct de rserves de charbon qui, si elles sont exploites, vont crer des emplois. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. LOPEP, avec laccord de la Russie, voulait stabiliser le prix, avoir moins de volatilit, tout en restant un niveau de prix acceptable pour le consommateur.