You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Like rival Vitol, Trafigura has seized the opportunity to get into oil storage as oil majors focus on production. 1. 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 . In oil markets, Koch is a brutally efficient middleman. Tout le monde est autour de la table, puis le projet monte au niveau de la direction. Nous avons simplement envie de jouer un rle pour rpondre aux besoins que cre cette transition. 1982:Termine ses tudes dconomie lUniversit de Genve. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. The company now operates in 60 countries. In 2001, for instance, it bought storied Swiss company Andre & Cie, once one of the worlds top five grains traders. In 2020, Mercuria had its best year ever, earning $786 million with revenues in line with commodity prices to about $85 billion. Most commodity buyers in the world are price takers. That comment, by Matt Damons character Marc Whitacre in the 2009 corporate scandal film The Informant, described how U.S. agricultural firm Archer Daniels Midland Co. turned grain into gold. He was later pardoned. The Chinese state is funding nimble trading firms to do its bidding. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. WHO: Louis Dreyfus, founded 1851 by Leopold Louis-Dreyfus, WHERE: Paris WHAT: Cotton, rice, grains, orange juice. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Mr Dunand said one way Mercuria could work with . On a plus de 100traders, on leur donne des paramtres de risque mais lintrieur de ces paramtres ils ont un degr de libert. WHO: Arcadia, founded 1988 by Japans Mitsui & Co. Arcadia Petroleum, the London-based oil trading firm owned by billionaire oil tanker magnate John Fredriksen, was thrust into the spotlight in May when U.S. commodities regulators sued it for allegedly manipulating U.S. oil markets in 2008. WHO: Koch Industries, founded 1920s by Fred Koch. Despite a concerted campaign in recent years to put forth a friendlier face and personality through advertising and more appearances by its executives in public forums, Cargill is bound together by a culture of confidentiality, aggressiveness -- and winning. Premium access for businesses and educational institutions. Still not entirely comfortable with his public profile, Glasenberg has described his shift into the glare of publicity as crossing the Rubicon. That is as far as it goes -- yet time and again, the media wrongly jump to the conclusion that the judo club connection means that Mr Putin and I are close, then leap into conspiracy-theory mode.. A spike in world food prices in 2007 stirred an outcry against the largest grain trading firms; when oil prices surged to a record $147 a barrel in 2008, U.S. Congress probed the role of oil trading firms, but found no smoking gun. But earlier this year the worlds wealthiest oil trader raised that profile, and did its reputation no harm, by becoming the first to deal with Libyas rebels, long before the overthrow of Muammar Gaddafi. One of the things that gives us an advantage is that were working in the physical markets as well so (we can) absorb all that information and make the calls.. It buys and sells multiple crops, mills and grinds and processes them into scores of products, both edible and not, and ships them to markets around the world. Trading houses saw the opportunity to leverage metals warehousing after the 2008 financial crisis. Cest l, entre autres, que nous pouvons intervenir. Belgium-born Rich joined Philipp Brothers, subsequently Phibro, aged 20, leaving in 1974 with a fellow graduate of the Phibro mailroom, Pincus Pinky Green, to set up Marc Rich and Co AG in Switzerland. It focused initially on shipping fuel oil cargoes to the mainland, a relationship that has since deepened. . It also said its foreign units had ended sales to Iran years ago, and did not violate U.S. law by conducting business with Iran earlier. In addition to proprietary trading curbs, the U.S. regulator voted on October 19 to impose position limits in oil and metals markets. Critics, including the Russian opposition, put it simply -- Russias paramount leader helped businessman Gennady Timchenko create the Gunvor oil trading empire, which saw a spectacular rise in the past decade when Putin was president and then prime minister. (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. 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. organisation a nous a demand des annes dinvestissement. Last year he surprised the market when he trumped Chinas Bright Food in a $1.5 billion deal to buy Australias Sucrogen. and other data for a number of reasons, such as keeping FT Sites reliable and secure, In early 2007, when world grain prices were surging toward all-time highs, it faced a problem in Ukraine. Heres a look at the 16 companies, with aggregate revenues of $1.1 trillion, that trade energy, metals and agriculture. Arcadia has faced controversy before. After a newspaper interview he wrote an open letter in 2008 headlined Gunvor, Putin and me: the truth about a Russian oil trader. The French trading giant approached Olam with a merger proposal in 2010, but talks failed earlier this year. Ds que vous vous rveillez le matin, vous rflchissez, cest un truc qui tourne 24heures sur 24, une remise en cause constante. (Podcast), Chairman/Co-Founder, Mercuria Energy Group Holding SA. . Its a model it has replicated across various commodities. Glencore has long made its fortune by working on the fringes and in areas where few others dared. Learn more about Energy. Global oil consumption is expected to rise by 3-4% to 103-104mbpd by the end of this year, compared with current levels, Marco Dunand, CEO of Mercuria said. In the Energy industry, Marco Dunand has 14,567 colleagues in 1,359 companies located in 76 countries. Notre capital est de quelque 3 milliards de dollars, ce que l'on appelle le net asset . 2004:Fondation de Mercuria avec Daniel Jaeggi. And its not just the Europeans. The companys deal with Libyas rebels was a gamble. Courts did not find any connection between its waste and sick people. They form an exclusive group, whose loosely regulated members are often based in such tax havens as Switzerland. An array of storage tanks on five continents oils the wheels of its vast trading operation and it has stepped into the gap left by the oil majors as they reduce their downstream presence to focus on upstream exploration and production. Dans tous ces pays, vous nouez des partenariats avec des entreprises extrieures. The company did not comment publicly on this incident. 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. With a turnover of more than USD 100 billion, the Group, primarily focused on energy, is present all along the commodities value chain with activities forming a balanced combination of . I have known the citizen Timchenko for a very long time, since my work in St Petersburg, Putin told a group of Russian writers. Further, the company highlighted its commitment to expanding its signature Swiss-style apprenticeship program for American veterans at its U.S. facilities. With a personal fortune estimated by Forbes at $10.7 billion, the 67-year-old was Norways richest man until he abandoned his citizenship in 2006 to become a national of Cyprus, where tax rates are lower. ENERGY TURNOVER: $75 billion 2011 company estimate (2010, $47 billion). 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. Cest un processus assez collgial. 2. 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. The material was dumped in open-air sites around Abidjan in August 2006 after being unloaded from a Trafigura-chartered tanker. It is also the worlds second largest trader of rice after Louis Dreyfus. On va probablement faire une proposition pour reprendre une partie de la socit, mais cest un processus comptitif, donc a se fera sans doute avec dautres. Marco Dunand | Mercuria Energy Group | Swaziland Swiss native and oil industry professional; obtained a degree in Economics and Management from the University of Geneva. But ADMs reputation has endured a black eye or two over the years. Vitol also discreetly supplied Libyas rebels with $1 billion in fuel, Reuters has learned -- supplies they desperately needed to advance on Tripoli. Mercuria Group Bio Marco Dunand is Chief Executive Officer of Mercuria Energy Group, one of the world's largest independent energy and commodities companies. analyse how our Sites are used. His partners seized control of the firm in 1994, renaming it Glencore. U.S. regulations are now pending to limit banks proprietary trading -- speculating with their own cash. Trading houses have huge volumes of proprietary trading. That would put them well below the 16 percent stake Glencore CEO Ivan Glasenberg owns in his firm. Price premiums for immediate supply spiked, sapping margins for refiners worldwide. Links: en.wikipedia.org. The companies dispute the charges. The thinking is, why open the books to the world? said a former lobbyist for Koch who requested anonymity. Markets never sleep, and neither does Bloomberg News. They have some superstars but mostly a lot of team players -- what I would describe as well grounded, fundamental traders.. J+S denied any wrong-doing and suggested the investigation was politically motivated. The Kochs have denied funding the Tea Party, but their empires far-reaching tentacles in the political arena have spawned a nickname: the Kochtopus. Geography isnt the sole focus of expansion -- it has moved into naphtha, LPG and wood pellets. Putin worked in the mayors office in the early 1990s when Timchenko and his friends, Putin said, spun off an oil trading unit of the Kirishi oil refinery. It doesnt look likely anytime soon. Marco Dunand, Mercuria Energy Group Holding SA: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Markets Americas Bloomberg Markets Americas. "We have committed as a company that, within five years, 50 per cent of all investments are going to be for the energy transition," co-founder Marco Dunand told the FT Commodities Global Summit. You can still enjoy your subscription until the end of your current billing period. But by the end of April, a U.S. Treasury directive authorized the Vitol transactions. Having said that, we have also been approached by potential investors -- sovereign funds and others -- who wish to make a private-equity type of investment in our company.. offers FT membership to read for free. The company has spent six decades trying to keep it that way. For many commodities traders, the most profitable ploy has been the squeeze, which involves driving prices up or down by accumulating a dominant position. He is one of Russias most private tycoons. The judge said there was no evidence the waste had caused anything more than flu-like symptoms and said some media had been irresponsible in their reporting. Un trader, cest un peu la mme chose: il ne demande pas la permission quand il doit acheter ou vendre. Many small producers rely almost entirely on Koch to buy, sell and ship their crude. [20] Mercuria also acquired the reorganized Aegean Marine which was renamedMinerva Bunkering. Timchenko doesnt need to be told to keep a low profile. He spent time trading metal in Hong Kong before moving to New York and a stint at commodities trading giant Phibro. Koch eventually pleaded guilty in 2001 to a felony charge related to its reporting of the benzene emissions. Known as OK Lim, the founder of Singapores Hin Leong Group wants to build the company from oil trader into an integrated company. Asked to comment, Cargill said the company actively backs free trade to boost agriculture in all countries and is in dialogue with many important audiences, including governments Additionally, we dont believe export bans are the solution to either high grain prices or price volatility. ADM declined to comment and a spokesman for Bunge could not be reached. On est entrs dans le business du ptrole de soute il y a deux ans avec la cration de notre filiale Minerva, cest une manire daccrotre notre part de march. We have to increase food production by 50 percent by 2030, and 80 percent by 2050, with our hands tied behind our back, he said, referring to constraints to boosting output such as the lack of land, water and infrastructure. In 1972 Cargill came under attack as it secretly sold millions of tonnes of wheat to Russia, using a U.S. export subsidy program to boot -- and boosting food inflation. When in Wichita, he often dines in the Koch cafeteria. Put it this way: two of them, Vitol and Trafigura, sold a combined 8.1 million barrels a day of oil last year. Trafigura was also quick to recognize the potential of storage in the industrial metals markets. One of their secrets: filling the empty barges headed home. Mercuria vient dtre cit dans une affaire de corruption au Brsil qui concerne aussi trois de vos concurrents suisses (Vitol, Trafigura et Glencore). With global sales of $108 billion in 2010, Cargill would have ranked No. It doesnt always work. [21][22], In 2019, Mercuria acquired bankrupt Aegean Marine Petroleum Network Inc and restructured the company to operate as Minerva Bunkering, a leading global physical supplier of marine fuels and a fully-owned subsidiary of Mercuria Energy Group Limited. On paper, the partial float made boss Ivan Glasenberg $10 billion richer overnight. WHO: Gunvor, founded 1997 by Swedish oil trader Torbjorn Tornqvist and Russian/Finnish businessman Gennady Timchenko, TURNOVER: $80 billion 2011, company estimate ($65 billion 2010). WHO: Vitol, founded 1966 in Rotterdam by Henk Vietor and Jacques Detiger, WHERE: Geneva and Rotterdam WHAT: Oil, gas, power, coal, industrial metals, sugar, TURNOVER: $195 billion (2010) CEO: Ian Taylor STAFF: 2,700. Non, videmment pas. Lims Chinese connections have played a big part in the companys success. Big trading firms now own a growing number of the mines that produce many of our commodities, the ships and pipelines that carry them, and the warehouses, silos and ports where they are stored. The suit was settled out of court for an undisclosed sum. Dunand, chairman and chief executive, and Jaeggi, head of global trading, used Mercuria to expand their trading base from crude and oil products. A wealthier world needs more food. Mabanaft sold 20 million tonnes of oil in 2010, up from 18 million tonnes in 2009. With 800,000 barrels a day to market, a volume similar to OPEC country Qatar, Arcadias annual gross revenue from oil could be around $29 billion based on current prices. Our activities Mercuria trades physical oil, energy products and other commodities from business hubs in Geneva, London, Singapore, Shanghai and Houston. The futures market may take some of that information and run with it. On its website Koch said it dismissed several employees of a French subsidiary upon learning of the improper and unauthorized payments. Prominent historians and conservation experts explain the architectural relevance of buildings ranging from houses of worship to former colonial outposts and tenements. U.S. and European regulators are cracking down on big banks and hedge funds that speculate in raw goods, but trading firms remain largely untouched. Lindustrie ptrolire opre avec des marges relativement troites, avec des cots structurels trs levs, et il y a pas mal de socits qui souffrent. Lim Oon Kuin arrived in Singapore from China over 50 years ago, and started to deliver diesel by bicycle to boatmen. The company's gross profit on sales for the year was $1.86 billion. [19], In January 2016, Mercuria announced that ChemChina had bought a 12% stake in the company. His 28-year-old twins Kathrine and Cecilie play a growing role in his sprawling business empire, according to press reports. In a May interview with Reuters, Fredriksen refuted the charges and shot back that maybe they (U.S. regulators) are trying to get some revenge for the 2010 BP oil spill in the Gulf of Mexico. The firms traders, according to two industry sources, made a fortune for Koch in 2009-10 during a contango in U.S. oil markets -- a period when oil for future delivery was higher priced than immediate cargoes. With African investors Helios Investment it recently paid a billion dollars to buy Shells fuel marketing operation across 14 West African countries, keeping the Shell branding. Many amass speculative positions worth billions in raw goods, or hoard commodities in warehouses and super-tankers during periods of tight supply. A lysine price-fixing scandal in 1993 tarred its name after three top executives were indicted and imprisoned. That comment didnt help calm rumors and then Timchenko spoke too. A fiercely libertarian ideology and ultra-competitive engineering prowess live on at Koch Industries spartan headquarters in Wichita, Kansas, a former Koch executive told Reuters. In a move borrowed from the playbooks of western rivals, state-run oil firm PetroChina has set up a Houston oil trading desk and leased massive oil storage tanks in the Caribbean. Unsuccessful talks have taken place with Singaporean commodities group Olam International Ltd, while bankers say they have been sounded out about a stock market listing. They go where the business is, said an industry insider who asked not to be named. In two decades of oil trading, Dunand and Jaeggi built fearsome reputations for seeing profit margins where others could only see potential losses. In 2006, J+S was raided by the Polish authorities in connection with an investigation into oil trading in Poland. Journalists in 50+ countries follow the constant flow of money made and lost in oil & gas while In 2006 Kuok, now 62, orchestrated a $4.3 billion merger which consolidated his uncles palm oil assets into Wilmar, making it the worlds largest listed palm oil firm. Result: Chinas pigs are heavier than ever and Bunge has become a key supplier to one of the fastest growing economies in the world. 0. Founded in 1818 in Amsterdam, the company is the worlds No.1 oilseed processor. They sail as close to the wind as they possibly can legally, said an oil analyst who requested anonymity. Yet it took Russias most influential politician almost a decade to publicly address one of the most serious allegations against him. Mercuria is just seven years old, but is already one of the worlds top five energy traders. En Europe, le changement climatique est une proccupation importante, mais il nest pas du tout vident que la population soit prte payer cette transition. marco dunand mercuria net worth . Thats what it is all about, Fredriksen said of the recent CFTC charges. Pre-tax income for its parent company Marquard & Bahls was $274 million, up from $252 million the previous year. Home Uncategorized marco dunand mercuria net worth. But theres little room for maneuver: the majority stake she inherited is locked up in a trust her husband set up to last for 99 years. U.S. refiner Tosco sued Arcadia and Glencore for market manipulation; the case was settled out of court. On a des activits diverses lintrieur de la compagnie, du trading pur aux financements structurs. Margarita Louis-Dreyfus told Les Echos that a listing, merger or the entry of a private investor were all options. Trading houses competed with banks for the spoils -- Glencore, Trafigura and Noble took one warehousing company each, Goldman and JP Morgan the others. 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. Since co-founding Mercuria with partner Marco Dunand in 2004, the company has ballooned into one of the top four commodity trading houses in the world, turning over more than $100 billion in. In May, Argentina kicked Bunge off the countrys exporters register after the government alleged it had evaded $300 million in taxes, an accusation the company denies. 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. 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. Dans cette affaire, certains vous reprochent de dployer une stratgie agressive, dite loan to own, savoir prter des concurrents en dtresse pour semparer deux. Kochs chief executive Charles Koch, a libertarian activist with a $22 billion personal fortune according to Forbes, has said his company would go public over my dead body. [16] The Miami, Florida-based MGM International Group is a developer of international projects to reduce greenhouse gas emissions. 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