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Mar 31, 2014

Analysis – National resource giants plot varied paths to global goal

NEW YORK (Reuters) – In teaming up with Cargill to create the world’s largest sugar trader last week, Brazil’s Copersucar has joined a small but growing club of national resource champions steadily transforming the commodities landscape.

In the boldest international move in its 50-plus-year history, the world’s top sugar producer will form a 50-50 joint venture with global trading powerhouse Cargill, plugging its 47 sugar mills into one of the world’s biggest logistical operations, with customers stretching from Chicago to China.

Mar 31, 2014

National resource giants plot varied paths to global goal

NEW YORK (Reuters) – In teaming up with Cargill to create the world’s largest sugar trader last week, Brazil’s Copersucar has joined a small but growing club of national resource champions steadily transforming the commodities landscape.

In the boldest international move in its 50-plus-year history, the world’s top sugar producer will form a 50-50 joint venture with global trading powerhouse Cargill, plugging its 47 sugar mills into one of the world’s biggest logistical operations, with customers stretching from Chicago to China.

Mar 26, 2014

Invisible men lined up as heirs at commodity traders

NEW YORK, March 24 (Reuters) – Abrupt leadership changes at
commodity traders Trafigura and Gunvor over the past week have
put a sharp light on an industry-wide challenge: shifting
oversight from a legion of legendary, aging leaders to a new
generation.

Trafigura’s co-founder and chief executive Claude Dauphin,
63, who owns less than a fifth of the firm, stepped down this
week to receive medical treatment. Jeremy Weir, who ran the
mining and risk management divisions, will take over the firm,
putting a 50-year-old Australian geologist in charge of the
enterprise with a turnover of $133 billion.

Mar 2, 2014

For oil traders, a vexing new risk: U.S. politics

NEW YORK, March 2 (Reuters) – Oil traders are past masters
at handicapping geo-political risks, from war in the Middle East
to resource nationalists in Latin America. Lately, they face
another confounding political landscape: Washington.

As a bounty of shale oil transforms the trading landscape
across North America, U.S. policymakers are being confronted
with a host of issues that hold immediate and material
implications to energy companies, investors and traders.

Feb 28, 2014

Bakken oil rail slows, regulators deny terminal closures

NEW YORK/WASHINGTON, Feb 28 (Reuters) – Oil shipments by
rail from the booming Bakken shale in North Dakota have slowed
over the past two days, data showed on Friday, but a U.S.
regulator knocked down rumors that some terminals have been shut
down due to new rules.

Oil traders are on edge over concerns that an emergency
order from the U.S. Department of Transportation this week
requiring shippers to test all crude before it is carried by
train could cut into deliveries of Bakken crude, as much as
800,000 barrels per day (bpd) of which is shipped by rail.

Dec 27, 2013

March of state companies resets global trading patterns

LONDON, Dec 27 (Reuters) – As U.S. and European banks drop
out of commodity trading, Russian, Chinese and Gulf state firms
are filling the gap in an attempt to exert greater control over
the pricing of the raw materials on which their economies so
heavily depend.

Last week, the Kremlin oil champion Rosneft bought
the oil trading unit of Morgan Stanley, one of the
largest and oldest trading desks on Wall Street, as banks reduce
exposure to trading.

Dec 15, 2013

Insight – Wall St’s energy rivals: Big Oil, a French utility, the Koch brothers

NEW YORK (Reuters) – As a historic oil and gas boom transforms the U.S. energy sector, Wall Street is losing the battle to remain the partner of choice for energy producers and major consumers seeking to protect themselves against volatile prices.

In the thriving Texas Permian oil patch and beyond, banks are being edged out by a handful of the world’s biggest corporations including BP Plc, Cargill and Koch Industries.

Dec 15, 2013

Insight: Wall Street’s energy rivals – Big Oil, a French utility, the Koch brothers

NEW YORK (Reuters) – As a historic oil and gas boom transforms the U.S. energy sector, Wall Street is losing the battle to remain the partner of choice for energy producers and major consumers seeking to protect themselves against volatile prices.

In the thriving Texas Permian oil patch and beyond, banks are being edged out by a handful of the world’s biggest corporations including BP Plc, Cargill and Koch Industries.

Dec 15, 2013

Wall St’s energy rivals: Big Oil, a French utility, the Koch brothers

NEW YORK, Dec 15 (Reuters) – As a historic oil and gas boom
transforms the U.S. energy sector, Wall Street is losing the
battle to remain the partner of choice for energy producers and
major consumers seeking to protect themselves against volatile
prices.

In the thriving Texas Permian oil patch and beyond, banks
are being edged out by a handful of the world’s biggest
corporations including BP Plc, Cargill and Koch
Industries.

Dec 11, 2013

Exclusive: Morgan Stanley launches sale of U.S. oil terminal business

NEW YORK (Reuters) – Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) has launched a formal effort to sell its controlling stake in U.S. oil terminal and transport business TransMontaigne, three sources said on Wednesday, following other Wall Street powerhouses in yielding to intense regulatory pressure to get out of commodity investments.

The bank has started circulating preliminary information about the assets it could sell, which include the general partner of master limited partnership (MLP) TransMontaigne Partners LP (TLP.N: Quote, Profile, Research, Stock Buzz), the sources said. One source said the offer also included a handful of assets outside the MLP.