Latest News for: Swiss commodity trading

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Glencore ordered to pay almost $500m in oil price manipulation case

Business Day 23 Sep 2022
The Swiss commodities trading firm, which pleaded guilty in May, was sentenced on Friday by US district judge Sarala v Nagala in Hartford, Connecticut ... Nagala delayed the sentencing in June to give Petroleos Mexicanos and its PMI Trading DAC trading arm additional time to claim restitution as a victim of the commodities firm’s fraud.
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ADNOC mulls Gunvor swoop

Splash24/7 22 Sep 2022
Abu Dhabi National Oil Company (ADNOC) is reportedly looking to buy all or part of the Swiss-based commodity trading giant Gunvor ... The deal, which could go from merging trading businesses to a complete takeover, would significantly increase the UAE’s reach in global commodity ...
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Gunvor taps McDermott for Rotterdam green hydrogen terminal FEED

Splash24/7 07 Sep 2022
Swiss-based commodity trading giant Gunvor has contracted Houston-headquartered McDermott International and its storage business, CB&I, for a front-end engineering design (FEED) of a green hydrogen import terminal in Rotterdam ... .
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Russia’s Sberbank Switzerland changes hands to new Swiss owner

Swissinfo 05 Sep 2022
The Swiss branch of Russia’s Sberbank has been sold to the Geneva-based m3 Groupe Holding ... It will now operate under the name TradeXBank, specialising in the financing of the commodities trade.
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The UN recently declared a universal human right to a healthy, sustainable environment. Here's where ...

Independent Tribune 08 Aug 2022
Robinson standout gets traded to Orioles, has surgery in span of few days Midland solar ... Xstrata, a Swiss multinational company that was said to be the largest exporter of thermal coal, was fully taken over by Glencore, a British-Swiss commodity trading and mining company in 2013.
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US is a past master at weaponizing food

China Daily 30 Jul 2022
The fact that Swiss commodity trading giant Glencore was recently fined $1.1 billion for years of illegal manipulation of the US crude oil benchmark agency shows that it is necessary to strengthen the supervision of these giant traders, so as to prevent them from manipulating the international food market.
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Production of zinc, copper falls at Glencore in first half of 2022

Marietta Daily Journal 29 Jul 2022
London — The production of zinc and copper dropped at Anglo-Swiss commodity trading and mining company Glencore Plc in the first six months of the year compared to the same period of last year.Glencore Plc reported on Friday that its ... .
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Phillips 66 and H2 Energy Europe close on joint venture to create European network of ...

Hastings Tribune 19 Jul 2022
Swiss-headquartered H2 Energy Europe is a joint venture between commodity trading firm Trafigura Pte Ltd ... Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world.
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Trading looted commodities could be war crime, says attorney general

Swissinfo 14 Jul 2022
Swiss Attorney General Stefan Blättler has warned Swiss commodity trading firms dealing in grain, coal and other commodities stolen from Ukraine that they could face prosecution.
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Northeast Minnesota’s fraught choice: Precious metals v. precious water

Hibbing Daily Tribune 07 Jul 2022
PolyMet is 72% owned by Glencore, a Swiss-based commodities trading and mining company that the Reuters news agency once described as the “biggest company you’ve never heard of.” It was founded by the late Marc Rich, a godfather of commodities trading who spent years on the FBI’s ...
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Climate protesters glue themselves to 200-year-old masterpiece

Kearney Hub 05 Jul 2022
Holcim, a Swiss building material company established in 1912, first expanded to France ... Xstrata, a Swiss multinational company that was said to be the largest exporter of thermal coal, was fully taken over by Glencore, a British-Swiss commodity trading and mining company in 2013.
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Swiss set to step up scrutiny of commodities traders

FX Empire 30 Jun 2022
“The aim is to establish a solid foundation of reliable data on Swiss commodity trading that can be compared over time,” it said in a statement ... Around 900 Swiss-based commodity traders employ more than 10,000 people, but the state can make only rough estimates of the sector’s ...
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Switzerland, the world’s top commodity trading hub, debates its overall maritime carbon footprint

Splash24/7 30 Jun 2022
The study concluded that the overall environmental impacts of traded commodities are 19 times higher than the ones caused by total Swiss consumption ... Ocean Responsibility Switzerland is an emerging network determined to get local authorities to crack down more severely on overall marine emissions from all the commodities traded in the confederation.
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Federal Council aims to improve statistics on Swiss commodity trading (EAER - Federal Department of Economic Affairs, Education and Research of the Swiss Confederation)

Public Technologies 29 Jun 2022
This means that currently only rough estimates can be made of the sector's contribution to the economy, and no specific information is available on the goods traded by Swiss commodity traders ... The aim is to establish a solid foundation of reliable data on Swiss commodity trading that can be compared over time.

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