Trafigura Profits Boosted by Oil Price Volatility

摘要

Oil price volatility may be causing sleepless nights for global upstream players, but it is providing rich pickings for the world’s leading oil trading groups that thrive on instability in the markets. Singapore-headquartered Trafigura, which markets around 5.5 million barrels per day of crude and products, saw gross profits for the first half of its financial year jump 50% year on year to $1.47 billion, thanks to a stellar performance by its oil trading division. Over the six-month period to Mar. 31, gross profits from oil and LNG sales soared almost 3 1/2 times to $1.04 billion, with the company’s non-oil business performing less well.