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Glencore oil

By | 13.10.2020

Our business extends into the wholesale fuel market supplying oil majors where required, as well as being a large supplier to independents. We run an asset-light model that focuses on sourcing a wide range of oil products, including gasoline, diesel, naphtha, kerosene, marine bunker fuel and jet fuel. We supply both Glencore's mining operations and also hold long-term contracts with independent retailers, farmers and wholesalers.

Led by a small team based in Sydney, our Australian oil business is focused on the east coast. We have a network of 11 import assets and an extensive inland logistic network of storage tanks including 76 road tankers.

Chemoil deploys a bunker barge, capable of supplying marine fuel oil and marine gas oil, to support its operations and offer bunkering via barge.

You may be trying to access this site from a secured browser on the server. Please enable scripts and reload this page. It looks like your browser does not have JavaScript enabled. Please turn on JavaScript and try again. Who we are. Page Content. Glencore's oil business is a key part of our global portfolio. Click on map to zoom in.The Chad write down came about as a result of Glencore expensing historical cost allocations on exploration licences.

The company said it had tried to extend the licences on its Chad East licences, acquired when it bought Caracal Energy inbut had been unable to reach an agreement with the government. As such, all the value of exploration in Chad has been cancelled. Glencore said the loss of its exploration assets in Chad would have no impact on its production and development work on the Mangara, Badila and Krim fields, which it groups as Chad West.

These fields are held under exploitation licences. The debt is paid down through future oil deliveries over 10 years. This debt was restructured in early In hindsight, the debt and purchase deals were particularly badly timed. SHT is not the only African state-backed company to owe Glencore money.

Glencore's head of oil, Alex Beard, retires amid U.S. probes

These will be repaid in power and oil deliveries respectively. Sign up to our Daily newsletter. SNPC is seeking to restructure its debt, which is owed to Glencore and a syndicate of banks.

Glencore loses Chad exploration licences. Next Post.Ivan Glasenberg born 7 January is the chief executive officer of Glencoreone of the world's largest commodity trading and mining companies. He became a Swiss citizen in Glasenberg was born 7 January in South Africa to a Jewish family. The family lived in Illovo, Gautenga suburb of Johannesburg. Glasenberg was an athlete, and by his early 20s was national junior champion in race walking. Glasenberg joined Glencore in[6] working in the coal department in South Africa [7] and Australia.

Davis left the company in July Glasenberg has served an executive director of Xstrata Plc since ; and as a non-executive director of Minara Resources Ltd since ; of Rusal Plc since ; and Century Aluminum Co.

Glasenberg has been a champion race-walker for both South Africa and Israel, [7] and runs and swims daily to maintain his fitness. When Glencore floated via an initial public offering in Mayit was reported that Glasenberg personally earned billions. From Wikipedia, the free encyclopedia. Ivan Glasenberg. JohannesburgSouth Africa. Australian ; South African ; Swiss.

University of Witwatersrand University of Southern California. Legend Icon Description Has not changed from the previous year Has increased from the previous year Has decreased from the previous year.

Financial Review. Retrieved 8 June Forbes Asia. January Retrieved 9 June The Guardian. Retrieved 19 May SonntagsZeitung Interview in German.Chemoil Energy Limited is an oil trading company incorporated in Hong Kong and having its headquarters in Singapore.

glencore oil

The company is amongst the largest independent physical suppliers of marine fuel products in the world. The company's main business is providing fueling services for ships in port.

They buy fuel oil from various suppliers, transport, store and blend them and finally deliver to oceangoing ships, containers, tanker fleets, time charter operators and marine fuel traders. It was voluntarily delisted in April Chemoil was founded by Indian businessman Robert Chandran in the state of California in Then it expanded the operations to Houston in and to New York in In Chemoil entered Europe having its office in Rotterdam.

It expanded to Singapore in and Panama in In December commodities trader Glencore purchased a majority stake in Chemoil. In Glencore increased their stake to Robert Chandran died January 7, from injuries sustained when a helicopter he was traveling in crashed in the Riau Province of Indonesia. On January 14,Chemoil announced that they appointed Clyde Michael Bandy as its chairman and chief executive officer with immediate effect.

Bandy was unanimously elected by Chemoil's board of directors to undertake the position following the death of Chemoil's founder, Robert Chandran, on January 7, Bandy has been Chemoil's lead independent director since August 31, Bandy retired from Chemoil in Following the acquisition by Glencore inseveral key executives departed. Following Mr.

glencore oil

Swanson became president and chief executive officer of Chemoil until her departure in after obtaining a Chemoil subsidiary, Prista Oil. From Wikipedia, the free encyclopedia. Chemoil Energy Limited Type.Back to Careers. We offer exciting graduate and entry-level opportunities around the world, in fields ranging from geology and engineering to trading, sustainability, logistics and finance — to name but a few.

If you are dedicated and driven, you have a can-do spirit, and you are willing to learn and take responsibility, we offer the chance to develop your career — and the rewards to match. Our recruitment and selection processes are organised by global region — with selection times depending on local calendars. To research our global assets and offices, please see our global assets map.

In South Africa, our coal and ferroalloys departments offer annual student bursaries in the following subjects:. In11 of our 50 students with bursaries in South Africa graduated from university; nine of these came to work for Glencore. We welcome recent graduates to our graduate programme. We offer opportunities in the following areas:. Our oil division also runs an annual graduate scheme based at our Singapore office. If you earn a place, you will work in our trading environments, and in areas such as operations, risk and analysis.

You will go through structured training, potentially leading to a job as a front-line trader or in another commercial role.

You'll need a relevant tertiary qualification — but we also seek graduates keen to live and work in remote places. Our vacation programme gives you a taste of an exciting future. Every year we host students during the December—February break — helping you find out more about the industry and develop your skills. In Australia, we are also putting in place a trainee programme to draw talent from local indigenous communities. We welcome recent graduates — recruiting via Europe for opportunities not only in Europe, but around the world, in a wide range of disciplines.

As a graduate in our corporate marketing offices, you get a wealth of on-the-job experience — working with experienced and accomplished colleagues.

Our oil division also runs an annual graduate scheme based at our London office. You will go through structured training, potentially leading toward a job as a front-line trader or in another commercial role. On an annual basis, we may offer a range of graduate jobs in engineering, across our North American mining operations.

glencore oil

Our oil division runs an annual graduate scheme, based at our Stamford, Connecticut office. In South America, we offer local graduate recruitment programmes and scholarships at various operations and offices, in core engineering disciplines. Homepage Careers Graduates. We value diversity, and respect people from all backgrounds. Our graduate programmes combine structured, professional development with on-the-job experience.

Watch our latest graduates videos. Find opportunities in your region Our recruitment and selection processes are organised by global region — with selection times depending on local calendars.

We aim to attract diverse talent to our African operations. View more. We welcome recent graduates to our Australian graduate programme, in the following fields:. Engineering — chemical, civil, electrical, mechanical, mining or geotechnical Environmental science, geology and geophysics Information systems and IT Other roles such as accounting, community relations, HR and occupational health and safety.

Vacation programmes and scholarships Our vacation programme gives you a taste of an exciting future. Trainee programme In Australia, we are also putting in place a trainee programme to draw talent from local indigenous communities. Marketing activities As a graduate in our corporate marketing offices, you get a wealth of on-the-job experience — working with experienced and accomplished colleagues.

Trading and commercial scheme Our oil division also runs an annual graduate scheme based at our London office. Internships During the summer holidays, we offer internship programmes in a range of fields. Engineering On an annual basis, we may offer a range of graduate jobs in engineering, across our North American mining operations.

Trading and commercial scheme Our oil division runs an annual graduate scheme, based at our Stamford, Connecticut office. Search for opportunities.Glencore plc is a British multinational commodity trading and mining company with headquarters in BaarSwitzerland, and its registered office in Saint HelierJersey. The current company was created through a merger of Glencore with Xstrata on 2 May As Glencore International, the company was already one of the world's leading integrated producers and marketers of commodities.

Glencore had a number of production facilities all around the world and supplied metals, minerals, crude oil, oil products, coal, natural gas and agricultural products to international customers in the automotive, power generation, steel production and food processing industries.

AG in by billionaire commodity trader Marc Rich. The name is an abbreviation of "Global Energy Commodity Resources". Incommodity trading and marketing company Trafigura was split off from Marc Rich's group of companies. Inproceeds from an oil sale to Glencore were seized as fraudulent gains as part of an investigation into corruption in the Democratic Republic of Congo Allen-Mills 17 June In Reuters called Glencore as "the biggest company you never heard of," and described how Glencore and Dan Gertler partnered in Nikanor from until it merged with Katanga Mining.

Reuters called the Nikanor acquisition an example of Glencore's opportunistic, contrarianwell-funded investment approach—focusing on equity participation, controlling interest, and working upstream from trading relationships. The acquisition was the culmination of 18 months of deal-making in Congo That deal gave Glencore exclusive rights to sell all Nikanor's output — an " offtake " agreement In five non-government organisations filed a complaint to the OECD against a subsidiary of Glencore over allegations that a mine it owns in Zambia may not be paying enough tax on its profits.

The cause for the complaint lay in the financial and accounting manipulations performed by the two companies' subsidiary, Mopani Copper Mines Plc MCMto evade taxation in Zambia. The avoidance was alleged to have been facilitated through mechanisms such as transfer pricing and inflated costs at Glencore's Mopani Copper Mine. The Mopani mines are controlled through the British Virgin Islandsa recognised tax haven.

As of September the value of its stock had fallen significantly.

Glencore loses Chad exploration licences

The company was reducing debt by selling off stock and assets. Along with several other major coal producers, Glencore is also a large shareholder in globalCOAL, the online physical coal trading platform. The board of globalCOAL contains a number of power utility shareholders. Relationships also exist with Century Aluminum Co.

In mid, Century was called "one of the most harrowing stocks of the past few years" but identified as a risky but potentially profitable investment for the future.

The 1,page document revealed invaluable information about this private company that has remained discreet for thirty-seven years. Ivan Glasenberg's shareholding was diluted from Daniel Mate and Telis Mistakidiszinc, copper and lead co-directors were diluted from 6. According to Reuters, Glencore is known for its "opportunistic but lucrative acquisition strategy. The investment made Aabar the largest cornerstone investor in the initial public offering IPO and the largest new shareholder of Glencore after its IPO, giving Aabar a 1.

The two firms intend to explore areas of co-operation. Aabar Investments was the largest new shareholder in Glencore. Prior to its merger with XstrataGlencore is reported to have served as a marketing partner for the company. Glencore offered 2. In total, 73 key executives stood to receive over GBP million under the initial retention package. Xstrata's operations in more than 20 countries employed 70, people. According to mining analyst John Meyer, if the two companies merged into Glencore Xstrata, they would be the 4th largest commodities trader in the world.

After 11 years of involvement, this marked a massive shift in the company's strategy and Xstrata was entering a post-Reid era. GlencoreXstrata operates a mine in Nunavut.March 17, Trading house Glencore has chartered the 3 million barrel crude carrier Europe to store oil at sea for at least 6 months, trading sources on Tuesday.

The vessel is one of two so-called ultra large crude carriers ULCCthe largest tankers in the world. Sources told Reuters last week that Royal Dutch Shell had provisionally booked at least three supertankers to store crude oil at sea for at least three months as traders brace for a sharp rise in global stocks after OPEC and its allies abandoned a production cut deal.

The glut of oil in world markets has prompted efforts by oil players to find storage options including both on land and offshore on tankers. Stena RoRo said it is preparing to convert an out-of-work vehicle and passenger ferry into a hospital ship to assist in response…. A Chinese ship embroiled in a standoff with Vietnamese vessels last year has returned to waters near Vietnam as the United…. The U. McAllister Towing announced Tuesday it has taken delivery of a newly built 6,horsepower shipdocking tug, Eileen McAllister….

Ships must be allowed to change over overworked and exhausted crews to help to keep trade flowing as coronavirus lockdowns…. Hedge fund managers sensed oil prices were nearing a turning point last week, and for the first time in more than two months….

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week.

A Glencore spokesman declined to comment. Each of these vessels can each carry a maximum of two million barrels of oil. Related News 14 Apr Trending News 13 Apr Featured video.


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