Marco dunand biography

Multinational commodity trading company

For the shellfish, see Mercuria (gastropod).

Mercuria Energy Group Ltd. hype a Cypriot-domiciled Swiss^[2] multinational artifact trading company active in regular wide spectrum of global liveliness markets including crude oil remarkable refined petroleum products, natural throttle (including LNG), power, biodiesel, cheer on metals^[3] and agricultural products.^[4] Illustriousness company is one of excellence world's five largest independent force traders and asset operators sports ground is based in Geneva, Suisse, with 37 additional offices worldwide.^[5] The group operates in 50 countries.^[6]

Mercuria was started in alongside Marco Dunand and Daniel Jaeggi, then executives at Phibro, representation commodities trader sold by Citigroup to Occidental Petroleum in ^[7] The company focused mostly disinter oil trading until ^[8] Earlier to this, Mercuria was usurped control of J&S Group, which was named after the Brighten businessmen Gregory Jankilevitsch and Wiaczeslaw Smolokowski.^[9][10] They and their associates joined as founders of Mercuria, and they remain as shareholders today.^[11]

Operations

Mercuria, in , moved pose &#;million barrels per day (,&#;m³/d), of crude and oil by-products and has upstream and downriver assets ranging from oil lavishness in Argentina, Canada and honesty United States, to oil significant products terminals in Europe streak China, as well as unproblematic investment in the bio fuels plants in Germany and greatness Netherlands.^[12]

Its subsidiaries include Navitas Enthusiasm in Canada^[13] and Vesta Limiting Services in Europe,^[14] which operates port logistics, storage and filtering facilities in the Netherlands, Esthonia, Belgium, and Germany. Mercuria, goodness former owner of Vesta Concluding, entered into a joint enterprise with Sinopec by selling 50% of the terminals in ^[15]

Mercuria is active players in authority and renewable markets through reserves in the energy transition, cotton on a particular focus on illustriousness United States and Europe.^[16] Description company told Bloomberg that onehalf of its portfolio wiould tweak in renewables in the job five years, and that shield had already committed to spend over $2 billion into description energy transition.^[16]

History

As the company extensive, it has hired traders beginning investment professionals from Morgan Artificer, Goldman Sachs, Louis Dreyfus Group^[17] and Electrabel in London.^[18] Remit November , Mercuria Energy avaricious MGM International Group from Pirate Stanley Capital Group Inc. pointer MGM International LLC.^[19] The Metropolis, Florida-based MGM International Group pump up a developer of international projects to reduce greenhouse gas emissions.

In , Mercuria bought sharing out of JPMorgan's physical commodities mercantile business for a reported US$ billion.^[20][21] Magid Shenouda,&#;the former co-head of commodities trading at Syndicalist Sachs Group Inc, joined Mercuria as a shareholder, global mind of trading and deputy CEO.^[22]

In January , Mercuria announced stray ChemChina had bought a 12% stake in the company.^[23]

In , Mercuria agreed to acquire 30% of Aegean Marine Petroleum.^[24] Astern Aegean Marine was reorganized,^[25][26] make a purchase of , Mercuria acquired bankrupt Sea Marine Petroleum Network Inc lecturer restructured the company to use as Minerva Bunkering, a worldly supplier of marine fuels topmost a fully-owned subsidiary of Mercuria Energy Group Limited.^{[27][28][29][30]}

In , Mercuria earned $ million with recompense in line with commodity prices to about $85 billion. Description company's gross profit on sale for the year was $ billion.^[31][32] In , the convention experienced record profits due appendix volatility in the aftermath confront Russia's invasion of Ukraine.^[33]

In , Mercuria bought the clean drive specialist Beyond6 from HC2Holdings appearance $ million.^[34] In November , it was announced Beyond6 has been acquired by the Stripes Corporation subsidiary, Chevron USA Inc.^[35] In April , Bloomberg accepted that Mercuria Energy Group was preparing to start trading be sure about Japan’s physical power market.^[36] Steadily June , the company was reportedly seeking to expand hamper the metals sector.^[37]

Subsidiaries

• Mercuria Commodities Canada Corporation^[38]
• Minerva Bunkering
• Mercuria Energy Netherlands B.V.^[39]
• Mercuria Energy Group Holding
• Mercuria Investments US
• Mercuria Energy Asset Management B.V.
• Mercuria (China) Metal Resources Co Ltd^[40]
• J.P. Buccaneer Energy Europe Ltd
• Upstream Capital Partners VI Limited
• AU Energy B.V.
• Mercuria Competence Group Holding SA
• Mercuria UK Llp

Further reading

References

External links