After a newspaper interview he wrote an open letter in 2008 headlined Gunvor, Putin and me: the truth about a Russian oil trader. [23][24][25][26], In 2020, Mercuria had its best year ever, earning $786 million with revenues in line with commodity prices to about $85 billion. The material was dumped in open-air sites around Abidjan in August 2006 after being unloaded from a Trafigura-chartered tanker. 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. We havent seen this pace of population growth in our living memory, Verghese told a conference in Singapore late last year. Arcadia often trades large volumes of oil from Nigeria and Yemen, where it boasts close relationships with state oil firms. 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. 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. Cest l, entre autres, que nous pouvons intervenir. The company's gross profit on sales for the year was $1.86 billion. The thinking is, why open the books to the world? said a former lobbyist for Koch who requested anonymity. Vitol says it is happy with its private status and has no IPO plans. Investors can forget about buying shares in the wildly profitable, family-run firm any time soon. When it comes to his critics, Vladimir Putin is a heavyweight puncher. You were always a little worried, taking the other side of their trades, said one European oil product trader, who declined to be identified. Monitor your investments 24 hours a day, around the clock from around the globe. It bought UK-based metals warehouser and logistics firm NEMS in March 2010, a month after Goldman Sachs had acquired rival Metro and several months before Glencore and JP Morgan moved into the business. 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. Thanks to a market condition known as contango -- a period when buyers pay more for future delivery than to receive their cargoes promptly -- they could sell futures and lock in profits of $10 a barrel or more. Together, Glencore employees, including many of its top traders, own just under 80 percent of the company. Son directeur gnral et cofondateur, Marco Dunand, explique les dessous de cette stratgie. The top five piled up $629 billion in revenues last year, just below the global top five financial companies and more than the combined sales of leading players in tech or telecoms. Fredriksens traders then hurriedly sold the physical crude at a loss, the CFTC lawsuit claims, ending expectations for tight supplies. Grain traders welcomed our offer to lend a diplomatic hand, the ambassador wrote. Linformatique aide pour matriser ces problmes de corruption ou de manipulation de march. We use There is no ideal solution. 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. In his first public interview to Reuters in 2007, Gunvors Swedish co-founder Tornbjorn Tornqvist was keen to stress that the firms success was built on its traders experience and excellent contacts. Marco Dunand is Chief Executive Officer and co-founder of Mercuria Energy Group, one of the world's largest independent energy and commodities companies operating in more than 50 countries along the entire commodities value chain with a balanced combination of commodity flows and strategic assets. Son directeur gnral et cofondateur, Marco Dunand, explique les dessous de cette stratgie Marco Dunand, directeur excutif de Mercuria. Cest vrai qu titre personnel le changement climatique est vraiment quelque chose qui me proccupe. But Cargill is anything but public. In the palm oil business, for example, it owns plantations, mills, refiners, shippers, bottlers and the distribution network, in both the top producers, Indonesia and Malaysia, and the top consumers, India and China. Trading houses have huge volumes of proprietary trading. 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. 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. 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. Over the last 145 years, Cargill has grown from a single grain storage warehouse by an Iowa railroad to a behemoth of world commodities trade, straddling dozens of markets for food and other essential materials -- salt, fertilizer, metals. 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). A rare news release announced that Jan-Willem van der Velden, who started as an international trader at the company in 1997, would take over as CEO from January this year. 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. Trafigura paid a $200 million settlement and the countrys prosecutor declared that there was no evidence of any illegality or misconduct by any Trafigura company or staff. Verghese, who Forbes says is worth $190 million, believes he can go it alone and aims to quadruple the companys value by 2015. Outside the commodities business, many of these quiet giants who broker the worlds basic goods are little known. Dunand is the co-founder and CEO of Mercuria Group, one of the world's largest independent energy and commodity trading companies. Glencores flotation has sparked speculation about a possible Vitol initial public offering and what it would be worth. While pursuing Robert Louis-Dreyfus passion for the club, which drained millions from his fortune, she has placed strict conditions on new investment. Some transgressions make headlines. 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. The top five piled up $629 billion in revenues last year, just. They have the most talent, the deepest pockets, and the best risk management.. organisation marco dunand mercuria net worth . Lawyers said doing business with the rebels still required great care. Its a message that could apply just as well to the Louis Dreyfus group. 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. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. [8], Mercuria moves about 1.5million barrels per day (240,000m3/d), of crude and oil products and has upstream and downstream assets ranging from oil reserves in Argentina, Canada and the United States, to oil and products terminals in Europe and China, as well as substantial investment in the bio fuels plants in Germany and the Netherlands. After dropping out of school he began his career at 15 in a metals scrap yard in the UK. 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. Like Rich, Dauphin created a leading commodities trading house by applying a knife-edge approach to business. Louis Dreyfus is a well-honed global operator, marketing agricultural commodities from wheat to orange juice. Founded in 1974 by Marc Rich, who fell foul of U.S. authorities but was later pardoned by President Bill Clinton, Glencore has assets spanning the globe and an oil division with more ships than Britains Royal Navy. Vitols early running gave the firm an edge with the countrys new political stewards. Gunvors oil dominance has waned in the past two years -- it is handling around a fifth of Russian seaborne oil exports, down from a third three years ago. 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. Compare Standard and Premium Digital here. Its a model it has replicated across various commodities. Was Vitol in violation? Together, they are worth over a trillion dollars in annual revenue and control more than half the world's freely traded commodities. 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. We are keen to consolidate our culture before we could think about changing it. That comment didnt help calm rumors and then Timchenko spoke too. Trafigura said it entrusted the waste to a state-registered Ivorian company, Tommy, which dumped the material illegally at sites around Abidjan. La dcision nest pas faite par moi tout seul ou avec Daniel Jaeggi [cofondateur de Mercuria] mais par le management team et, avant, par ce que nous appelons linterne les fdrations: oprations, tax, crdit, compliance, etc. That gives banks who trade futures cause for concern, but since physical players usually receive exemptions to limits -- because they are categorized as bona fide hedgers -- trading firms should go unscathed. Mercuria Group Bio Marco Dunand is Chief Executive Officer of Mercuria Energy Group, one of the world's largest independent energy and commodities companies. [9], Its subsidiaries include Navitas Energy in Canada[10] and Vesta Terminal Services in Europe,[11] which operates port logistics, storage and processing facilities in the Netherlands, Estonia, Belgium, and Germany. Marco Dunand, Mercuria Energy Group Holding SA: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Markets Americas Bloomberg Markets Americas. Two decades ago, Chinese farmers fed their pigs just about anything they could lay their hands on. That strategy has often succeeded, though last month it found itself at the center of a dispute in the newly minted nation of South Sudan. [16] The Miami, Florida-based MGM International Group is a developer of international projects to reduce greenhouse gas emissions. On a des activits diverses lintrieur de la compagnie, du trading pur aux financements structurs. The company now operates in 60 countries. 1987:Rejoint le trading de matires premires chez Cargill, puis Goldman Sachs, Salomon Brothers et Sempra. Fredriksen became a leading oil shipping magnate well before buying Arcadia, in 2006. U.S. regulations are now pending to limit banks proprietary trading -- speculating with their own cash. In April Noble appointed Li Rongrong, former chairman of the state-owned assets supervision and administration commission of China, as a non-executive director. A l'ouverture du sommet des matires premires de Lausanne, le FT Commodities Global Summit, le directeur de Mercuria, Marco Dunand, dcrit la concentration vcue par le secteur, les nouvelles sources de croissance et les dfis technologiques. The colleagues of Marco Dunand. But in May the U.S. Commodity Futures Trading Commission sued Arcadia and Parnon, both owned by a Norwegian shipping billionaire, for allegedly manipulating U.S. oil prices three years ago, amassing millions of barrels they had no intention of using. The trading houses talent and deep pockets translate into incredible power. tracking emerging trends and opportunities in the future of energy. The godfather of oil trading, Marc Rich, taught one of his most talented apprentices Claude Dauphin almost every trick in the business. Simply log into Settings & Account and select "Cancel" on the right-hand side. a se fera par -coups, mais on ne peut pas rester sans rien faire. In 2006, J+S was raided by the Polish authorities in connection with an investigation into oil trading in Poland. [12], Mercuria is active players in energy and renewable markets through investments in the energy transition, with a particular focus on the United States and Europe. The very public power struggle was all the more remarkable because the company normally keeps everything, from its precise earnings to the exact age of its main shareholder and chairwoman, a secret. or A Trafigura-chartered tanker was intercepted in the Caribbean in 2001 on suspicion of carrying illegal volumes of Iraqi crude. Marco Dunand, patron de Mercuria: Notre approche est assez intellectuelle Matires premires Le trader genevois Mercuria veut s'emparer du gant grec en faillite Aegean Marine Petroleum. On se pose beaucoup de questions, on remet sans cesse en cause les modles, on sadapte aux nouvelles complexits qui se crent. They point to very competitive pricing offered by Gunvor when it comes to Russian oil tenders. On peut dcider relativement facilement parce que les gens qui prparent les projets linterne ont un degr dautonomie assez grand. Grce cette accumulation de savoir-faire, on est capables dintervenir tout au long de la chane, l o il faut, quand une opportunit se prsente. A few traders seized the chance to buy what amounted to almost all the available supply. Thats equal to the combined oil exports of Saudi Arabia and Venezuela. In a settlement, Trafigura agreed to pay a $5 million fine, but wasnt charged with smuggling and denied wrongdoing. 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. 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