Jump to navigation

Vol 50 No 12

Published 12th June 2009

How to win in a recession

The trading of oil and other commodities is far more lucrative and resistant to demands for scrutiny than the beleaguered banking sector

The world of oil trading is as remarkable for its profits as for its opacity, some of its largest businesses having an annual turnover of several hundred billion dollars a year. Swiss-based Glencore handles 3% of the world’s daily oil supply. Many trading businesses are privately held, so their financial statements are not available, much less their tax details. They would make fascinating reading.

End of preview - This article contains approximately 1647 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.