23 Facts About Trafigura

1.

Trafigura operates through a complex network of over 100 subsidiaries across the world, with main operating offices in Geneva and Singapore.

FactSnippet No. 1,302,708
2.

Trafigura was formed by Claude Dauphin and Eric de Turckheim in 1993, but quickly split off from a group of companies managed by Marc Rich.

FactSnippet No. 1,302,709
3.

Trafigura had previously stood down from the board of the group's hedge fund arm following the 2009 controversy over the Cote d'Ivoire incident.

FactSnippet No. 1,302,710
4.

In February 2013 Trafigura invested $800 million in the Australian energy market, acquiring more than 250 petrol stations, two oil import terminals and five fuel depots in three separate acquisitions by its subsidiary Puma Energy.

FactSnippet No. 1,302,711
5.

In March 2013, Trafigura announced a deal with South Sudan to export Dar Blend crude oil from Port Sudan.

FactSnippet No. 1,302,712
6.

Month later Trafigura signed an agreement with Dallas-based pipeline operator Energy Transfer Partners to transport crude oil and condensate via a partially converted 82-mile pipeline from the Eagle Ford oil field in McMullen County, Texas, to Trafigura's deep-water terminal at Corpus Christi Bay, near the Gulf of Mexico.

FactSnippet No. 1,302,713
7.

In July 2014 Trafigura launched Lykos, an online platform in India to sell metals to small and medium-sized manufacturers in the country.

FactSnippet No. 1,302,714
8.

In June 2015 Trafigura announced a 50:50 joint venture with Abu Dhabi investment company Mubadala Development Company—to invest in base metals mining.

FactSnippet No. 1,302,715
9.

In March 2010 Trafigura made its first venture into capital markets, issuing Euro 400m in five-year Eurobonds.

FactSnippet No. 1,302,716
10.

In 2013 as a consequence of the Singapore listing, Trafigura released financial statements for the first time, reporting Q1 profits of $216.

FactSnippet No. 1,302,717
11.

In March 2016, Trafigura closed a 46 million yen three-year loan, doubling the size of its 2014 Samurai loan.

FactSnippet No. 1,302,718
12.

Trafigura is the third-largest physical commodities trading group in the world behind Vitol and Glencore.

FactSnippet No. 1,302,719
13.

In October 2016 Trafigura sold five medium-range tankers to China's Bank of Communications Financial Leasing Co, marking its exit from owning product tankers.

FactSnippet No. 1,302,720
14.

Trafigura is involved in paper trading through its subsidiary Galena Asset Management, which was set up in 2003 to invest in commodity funds.

FactSnippet No. 1,302,721
15.

In May 2015, the Financial Times reported that Trafigura has become a major exporter for Rosneft crude oil from Russia despite sanctions.

FactSnippet No. 1,302,722
16.

Trafigura has seen a surge for such exports, almost 9 million barrels of crude in April 2015, mostly for Asian markets, financed by pre-pay oil deals in form of short term loans that are not subject to sanctions.

FactSnippet No. 1,302,723
17.

In 2016, the Swiss non-governmental organisation Public Eye published the results of its investigation showing how traders – especially Trafigura – prepare and sell "African quality" toxic fuel to Africa, containing high levels of sulphur that causes particulate matter pollution, damaging human health.

FactSnippet No. 1,302,724
18.

Trafigura stated that the report was "misconceived" as they only supply legal fuel and that it is up to governments to set fuel specifications.

FactSnippet No. 1,302,725
19.

Some 18 months later, in May 2020, the Guardian reported Trafigura was under investigation by the US Commodity Futures Trading Commission for alleged corruption and market manipulation relating to oil trading.

FactSnippet No. 1,302,726
20.

Trafigura maintains that the substance dumped consisted of "slops", or waste water from washing the Probo Koala's tanks.

FactSnippet No. 1,302,727
21.

Trafigura denied any waste was transported from the Netherlands, saying that the substances contained only tiny amounts of hydrogen sulfide, and that the company did not know the substance was to be disposed of improperly.

FactSnippet No. 1,302,728
22.

In May 2009 Trafigura announced it would sue the BBC for libel after its Newsnight program alleged the company had knowingly sought to cover up its role in the incident.

FactSnippet No. 1,302,729
23.

In September 2009 The Guardian obtained and published internal Trafigura emails showing that the traders responsible knew how dangerous the chemicals were.

FactSnippet No. 1,302,730