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Swiss Commodities Traders Go Big on African Oil

Posted on 22 July 2014

Swiss commodities traders are buying significant volumes of Africa’s oil in opaque and lightly-regulated deals, according to a new report that spotlights their commanding position in the continent’s energy markets.
Traders such as Glencore PLC and privately-owned Trafigura Beheer B.V. spent $55 billion buying a quarter of the oil produced by Africa’s top 10 suppliers between 2011 and 2013, according to the report by a trio of nongovernmental organizations, the Berne Declaration, the Natural Resource Governance Institute and Swissaid………………………………………..Full Article: Source


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