New Gunvor bribery ‘skeleton’ haunts oil tader’s pledge to reform
In late 2019 Gunvor Group, one of the world’s biggest oil traders, said it would make a clean break from the past by settling a long-running bribery case in Africa.
Glencore
Chad denies sale plans for export pipeline
Chad has no plans to sell a stake in its export pipeline to Cameroon, Société des Hydrocarbures du Tchad (SHT) has said in a statement.
Glencore writes down African oil works
Glencore has taken an impairment of $6.39 billion for 2020, including $1.15bn in African oil operations.
Travel restrictions slow Chad resumption for Glencore
Glencore’s wells in Chad remain offline although the Alen field, in Equatorial Guinea, is expected to start up on schedule in the first quarter.
Committee to visit Engen accident site
A South African committee will visit the Engen refinery this week, during a visit to KwaZulu-Natal.
Glencore faces UK scrutiny over Chad spill
The UK’s National Contact Point (NCP) has accepted a complaint against Glencore UK for an oil spill in Chad.
Glencore closes acquisition of Ørsted’s LNG
Glencore has completed its purchase of Ørsted’s LNG business, just under a year after announcing the deal.
Chad asks to suspend payments on Glencore oil-backed loan
Chad asked Glencore to suspend payments on its oil-for-cash loan this year, a move that could prove a precedent for private creditors worried about being dragged into a global debt-relief push for poor countries.
Eskom moves to claw back cash from Guptas
Eskom has launched an attempt to recover cash lost to alleged corruption, which took place in 2015-16.
Chad remains offline for Glencore
Glencore produced more oil in the first half of the year, despite shutting down its Chadian assets.
OGTC names entrepreneur Martin Gilbert as chair at ‘crucial’ time
Entrepreneur Martin Gilbert has been appointed chairman of the Oil and Gas Technology Centre (OGTC) at a “pivotal time” for the energy industry.
Glencore loses Chad exploration licences
Glencore’s core business of marketing held up well in 2019 but the trader took a $2.8 billion impairment charge, driven in part by the loss of its oil exploration licences in Chad.
Glencore lines up to take FAR’s Sangomar crude
Australia’s FAR has signed a deal to allocate its share of crude from Senegal’s Sangomar field to Glencore Energy.
Glencore ups production with Cameroon start
Glencore’s oil production has risen 8% during the first three quarters of the year over the same period in 2018.
Back to the Marc Rich days as US investigates commodity traders
Not since the days of fugitive oil merchant Marc Rich has the commodities trading industry faced so much global scrutiny.
The £25 trillion pushing fossil fuel CEOs to act on climate
Behind Glencore Plc’s decision to limit coal investment is a little-known, but powerful group of investors.
Glencore to cap coal mining amid shareholder pressure
Commodities giant Glencore has said it will cap how much coal it mines amid shareholder pressure for it to help reduce global emissions of greenhouse gases.
Glencore accused of corruption and money laundering
Glencore Plc says it’s been subpoenaed by the U.S. Department of Justice to produce documents relating to corruption and money laundering.
Glencore ‘close to’ $1bn Chevron Southern Africa deal
Glencore Plc is close to a $1 billion deal to buy Chevron Corp.’s southern African assets, potentially scuppering an earlier agreement with China Petroleum & Chemical Corp., according to three people familiar with the matter.
Serious Fraud Office to recover £4.4million following ‘Chad Oil’ corruption case
The UK’s Serious Fraud Office (SFO) is to recover £4.4million pounds lost in a corruption case involving bribes to Chadian diplomats in the US and Canada.
Falling oil stocks result in dramatic slide in UK share index
The FTSE 100 drops 37 points (0.5%) during lunch with a dip in oil and mining stocks being blamed for its lowest level since October.
Glencore agrees $973milion stake in Chevron’s African business
Commodity and mining group, Glencore, are taking over a 75% stake in Chevron’s CVX.N South Africa unit and all of Chevron Botswana, claim Reuters.
Glencore submits improved bid for Rio Tinto coal mines
Glencore has submitted an improved bid to acquire Rio Tinto’s 100% interest in Coal and Allied Industries Limited.
Russia sells $11billion stake in Rosneft to Glencore, Qatar
Russia sold an 10.2-billion euro ($11 billion) stake in its largest oil producer to commodity trader Glencore Plc and Qatar’s sovereign wealth fund in a triumph for President Vladimir Putin, who announced the deal on state television personally.
Chevron, Total, Glencore bidding for Chevron South African downstream assets
Total, Glencore and Gunvor are all vying for a 75% stake in Chevron's South African downstream assets.