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Vol 50 No 12

Published 12th June 2009

Inside the four big oil traders

The oil trading companies, their owners and areas of operation

Glencore: The company does not name its chief executive. The firm began in 1994 when the United States’ commodities trader Marc Rich (who secured a pardon for tax offences from President Bill Clinton, AC passim) sold his interest in his own firm to its senior traders. Its main markets are Congo-Kinshasa, Kenya and Nigeria, where it has both upstream and downstream operations. Its tank farms in Nigeria store gasoline to sell to industry and it hopes to challenge Vitol with a bigger Nigerian National Petroleum Corporation (NNPC) oil allocation when Nigerian crude production recovers.

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