Mercuria Energy Group

Mercuria Energy Group Ltd is a privately held Swiss international commodity trading company active in a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas (including LNG), power, coal, biodiesel, carbon emissions, base metals[8] and agricultural products.[9] In 2014, the company bought the commodities trading arm of J.P. Morgan in a reported US$800 million deal.[10] It is one of the world's five largest independent energy traders and asset operators and is based in Geneva, Switzerland, with 37 additional offices worldwide.[11]The group operates in 50 countries.[12]

Mercuria Energy Group[1][2]
Private
IndustryCommodity
Founded2004 (2004)
HeadquartersGeneva, Switzerland
(Head office)
Geneva, Switzerland
(Registered office)
Area served
Global
Key people
Marco Dunand (President and CEO)
ProductsRaw materials / Energy / Merchant
RevenueUS$121 billion (2019)[3]
US$104 billion (2017)[4][5]
  • US$419 million (2018)
  • US$442 million (2017)
[6]
Number of employees
1,200 (2020)[7]
Websitewww.mercuria.com

History

Mercuria was started in 2004 by Marco Dunand and Daniel Jaeggi, then executives at Phibro, the commodities trader sold by Citigroup to Occidental Petroleum in 2009. The company focused mostly on oil trading until 2007.[13] During that time Mercuria was called J&S Group after the Ukrainian-Polish businessmen Grigorij Jankilevitsch and Vyacheslav Smolokowski. They and their affiliates founded Mercuria, but gradually withdrew after political turmoil.[14] As the company expanded, it has hired traders and investment professionals from Morgan Stanley, Goldman Sachs, Louis Dreyfus Group[15] and Electrabel in London.[16] Mercuria's 2013 revenue was US$112 billion.[17]

In January 2016 Mercuria announced that ChemChina had bought a 12% stake in the company.[18] Mercuria also acquired the reorganized Aegean Marine which was renamed Minerva Bunkering.[19]

Operations

Mercuria moves about 1.5m barrels of crude and oil products daily, and has upstream and downstream assets ranging from oil reserves in Argentina, Canada and the US, to oil and products terminals in Europe and China, as well as substantial investment in the coal mining industry and bio fuels plants in Germany and the Netherlands.[20]

Its subsidiaries include Navitas Energy in Canada[21] and Vesta Terminal Services in Europe,[22] which operates port logistics, storage and processing facilities in the Netherlands, Estonia, Belgium, and Germany. Mercuria, former owner of Vesta Terminal, entered into a joint venture with Sinopec by selling 50% of the terminals in 2013.[23] In November 2010, Mercuria Energy bought MGM International Group from Morgan Stanley Capital Group Inc. and MGM International LLC.[24] The Miami, Florida-based MGM International Group is a developer of international projects to reduce greenhouse gas emissions and trades in global carbon markets.

Further reading

References
  1. http://www.hoovers.com/company-information/cs/company-profile.mercuria_energy_group_limited.1cbfad0c3d3f328c.html
  2. https://www.ft.com/stream/1144daba-2f82-4298-8053-3712c2710d35
  3. https://www.reuters.com/article/mercuria-results/commodity-trader-mercurias-net-profits-edge-lower-in-2018-idUSL8N21D3KH
  4. http://www.mercuria.com/media-room/financial-information
  5. http://www.hoovers.com/company-information/cs/company-profile.mercuria_energy_group_limited.1cbfad0c3d3f328c.html
  6. https://www.bloomberg.com/news/articles/2019-03-25/mercuria-profit-slips-5-as-power-gas-offsets-tough-oil-trading
  7. https://www.mercuria.com/our-people/working-at-mercuria
  8. "China slowdown spells end of big payday for iron ore traders". Reuters.com. 10 September 2013. Retrieved 14 November 2017.
  9. "RPT-Oil traders diversify into food and metals in quest for profits". Reuters.com. 18 June 2013. Retrieved 14 November 2017.
  10. Kent, Sarah; Chaudhuri, Saabira (2014-10-03). "J.P. Morgan Completes Sale of Some Commodities Operations to Mercuria". Wall Street Journal. Retrieved 14 November 2017.
  11. https://www.mercuria.com/media-room/documents-and-downloads
  12. https://www.mercuria.com/our-people/working-at-mercuria
  13. "Oil trading". risk.net. Retrieved November 15, 2017.
  14. "Naftowi gracze". Forbes.pl. 23 May 2016. Retrieved 14 November 2017.
  15. "Louis Dreyfus metal traders, investment managers will join Mercuria Energy". Metalbulletin.com. Retrieved 14 November 2017.
  16. "Larnaca, Cyprus". Topix.com. Retrieved 14 November 2017.
  17. "Mercuria Revenue Growth Tops Rivals Before JPMorgan Deal". Bloomberg.com. 24 April 2014. Retrieved 14 November 2017.
  18. ChemChina Acquires 12% Stake in Swiss Commodity Trader Mercuria, Bloomberg article on ChemChina strategic investment in Mercuria Energy Trading, published on 18 January 2016
  19. Restructured Aegean Marine Becomes Minerva Bunkering
  20. "Oul and Mining Areas". proshareng.com. Retrieved November 15, 2017.
  21. "Oil and Gas, PetroLama Energy Canada Inc. Calgary, AB Home". Navitasenergy.com. Retrieved 14 November 2017.
  22. "Home - Vesta Terminals". Vestaterminals.com. Retrieved 14 November 2017.
  23. "Prior notification of a concentration (Case COMP/M.6807 — Mercuria Energy Asset Management/Sinomart KTS Development/Vesta Terminals) : (Text with EEA relevance)" (PDF). Eur-lex.europa.eu. Retrieved 14 November 2017.
  24. "Mercuria Energy Group Ltd buys MGM International from Morgan Stanley - CEOWORLD magazine". Ceoworld.biz. Retrieved 14 November 2017.
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