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.
Glencore
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.
Top oil traders sense worst is over and predict $80 oil by next year
Top executives at the world’s largest oil-trading houses said the worst of the market’s woes are probably over, with some predicting prices will climb to $50 a barrel by next year.
Victoria Oil & Gas secures controlling interest in Cameroon block
The Cameroon government has approved Victoria Oil & Gas taking the controlling interest in the Matanda production sharing contract.
Oil traders making hay while industry feels the pinch
Oil traders are recording some of their best results on record, whilst the industry, and many countries, are reeling from the global downturn in the oil price.
Victoria snaps up Glencore’s Cameroon asset
Victoria Oil & Gas has expanded operations in Cameroon by acquiring 75% stake in the Matanda licence from a subsidiary of Glencore as the commodity giant continues to offload non-core assets .
Glencore wins vote of confidence from lenders
Glencore chief executive Ivan Glasenberg won a vote of confidence from lenders that he can steer the mining company through a dismal market and restore it to financial stability.
Mining giants fuel FTSE 100 bounce back
The rebound on London’s top flight index picked up pace as a rally in the mining sector helped it build on recent gains.
Glencore sees Tripoli-based NOC as sole legal seller of Libyan oil
Commodities trader Glencore said on Thursday it recognises Libya's Tripoli-based National Oil Corporatino as the sole legal marketer of the country's oil, after securing an export deal earlier this year with the state-run company.
Glencore to impair value of Chad oil unit by about $790 million
Glencore Plc, the mining and commodities company led by billionaire Ivan Glasenberg, expects to impair the value of its oil business in Chad by about $790 million in its interim accounts.