Lims Chinese connections have played a big part in the companys success. Its website reveals little more than that it is the trading arm of privately owned oil company Marquard & Bahls. By annual revenue Vitol is richer than Glencore but the numbers arent directly comparable -- Glencore owns more hard assets which, typically, are far more profitable than trade turnover. Mercuria salary income and net worth data provided by People Ai provides an estimation for any internet celebrity's real salary income and net worth like Mercuria based on real numbers. Oil prices are expected to rebound later this and keep rising in 2024 as demand jumps and producers struggle to keep up, triggering further severe price swings, Dunand said. Cela signifie-t-il quon verra dans quelque temps une flotte de dizaines de ptroliers ravitailleurs aux couleurs de Mercuria? Unsuccessful talks have taken place with Singaporean commodities group Olam International Ltd, while bankers say they have been sounded out about a stock market listing. In 2006 Kuok, now 62, orchestrated a $4.3 billion merger which consolidated his uncles palm oil assets into Wilmar, making it the worlds largest listed palm oil firm. Son directeur gnral et cofondateur, Marco Dunand, explique les dessous de cette stratgie. Back in Hong Kong, he traded commodities with China in the 1970s and was the first to sell Chinas Daqing crude oil to the United States. Two examples: it makes biodegradable and recyclable plastics out of corn at its $1 billion complex at Blair, Nebraska, and is creating new low-calorie food ingredients for such multinationals as Kraft, Nestle and Coca Cola. Margarita Louis-Dreyfus told Les Echos that a listing, merger or the entry of a private investor were all options. Heres a look at the 16 companies, with aggregate revenues of $1.1 trillion, that trade energy, metals and agriculture. It announced in early October that it may float its storage subsidiary Puma Energy within 18 months. (Bloomberg) In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the worlds fourth-largest commodity trader with revenue topping $100 billion last year. Dans le march du fioul marin, on a envie de jouer un rle en facilitant la transition vers des carburants moins soufrs. To achieve this, it would be necessary to recruit the (Ukrainian) farmers to take an active role. Je pense que, trs court terme, les prix peuvent rester relativement bas, mais quils vont remonter environ 70dollars dici 4-5 mois. Kochs chief executive Charles Koch, a libertarian activist with a $22 billion personal fortune according to Forbes, has said his company would go public over my dead body. WHO: Vitol, founded 1966 in Rotterdam by Henk Vietor and Jacques Detiger, WHERE: Geneva and Rotterdam WHAT: Oil, gas, power, coal, industrial metals, sugar, TURNOVER: $195 billion (2010) CEO: Ian Taylor STAFF: 2,700. And his silence helped feed rumors about Gunvors remarkable growth. It is also the worlds second largest trader of rice after Louis Dreyfus. But it was absolutely one of the greatest moves in the business.. The company, which went public 10 years ago, realized early that rising incomes in Asia could be fed by Brazil and Argentina, two of the last remaining countries with new farmland left for crop cultivation. Compared with other independent trading houses, Dunand and Jaeggi are high profile, speaking periodically to the press and giving regular interviews. Mercuria, the former owner of Vesta Terminal, entered into a joint venture with Sinopec by selling 50% of the terminals in 2013. Overall Arcadia profited by $50 million in derivatives markets as oil futures spreads collapsed, according to the suit. See here for a complete list of exchanges and delays. Les armateurs sont structurellement endetts et nont pas forcment beaucoup dargent investir. Overnight on Wall Street is morning in Europe. In a move borrowed from the playbooks of western rivals, state-run oil firm PetroChina has set up a Houston oil trading desk and leased massive oil storage tanks in the Caribbean. Around two decades ago, Kuok Khoon Hong decided to leave the business empire of his billionaire uncle Robert Kuok to set up an edible oil business with a big bet: China. Vitol says it is happy with its private status and has no IPO plans. 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Like Vitol, he says, Gunvor has no plans to follow Glencore into an IPO. They go where the business is, said an industry insider who asked not to be named. While its savvy traders were doing deals in eastern Libya, Vitol, along with rival Trafigura, kept refined product supplies flowing to the besieged government of Bashar al-Assad in Syria as his troops attacked civilians. Trading houses were able to do this because international sanctions on Syria do not ban the sale of fuel into the country, but they did not have to fight off much competition for that business. Vitols early running gave the firm an edge with the countrys new political stewards. WHO: Cargill, founded 1865 by William Wallace Cargill at the end of the U.S. Civil War, WHERE: Minneapolis, Minnesota WHAT: Grains, oilseeds, salt, fertilizers, metals, energy, TURNOVER: $108 billion (2010) CEO: Greg Page STAFF: 130,000. CNIC did not respond to. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. For Gunvors rivals, too, favoritism is also an overly simple explanation of the companys success. They are buying and selling oil. [29] Youve always had grain going down the river and going through the Gulf and being exported. Mercuria is just seven years old, but is already one of the worlds top five energy traders. analyse how our Sites are used. Fred Koch returned to the United States with a visceral hatred for Joseph Stalin and communism. His 28-year-old twins Kathrine and Cecilie play a growing role in his sprawling business empire, according to press reports. Further, the company highlighted its commitment to expanding its signature Swiss-style apprenticeship program for American veterans at its U.S. facilities. But to involve Mr Putin and any of his staff in this dialogue is speculation, he added. We use What matters is that the group and its name survive, she said. Lindustrie ptrolire opre avec des marges relativement troites, avec des cots structurels trs levs, et il y a pas mal de socits qui souffrent. Founded in 1974 by Marc Rich, who fell foul of U.S. authorities but was later pardoned by President Bill Clinton, Glencore has assets spanning the globe and an oil division with more ships than Britains Royal Navy. Dautant que linconnue des exemptions amricaines, qui ne durent que jusquen mars, va persister. Noble quit its global liquefied petroleum gas (LPG) operations in 2010, a year it was censured in Nigeria for discrepancies in gasoline shipping lists. They are part of the food chain, yet help shape it, and the personal rewards can be huge. In his only media interview, with Reuters in 2006, Lim credited his success to investment in his tanker armada -- the secret weapon that helped him set up stealthy and profitable deals in the 1990s -- and his philosophy of perseverance. People forget about it. You may change or cancel your subscription or trial at any time online. Like Rich, Dauphin created a leading commodities trading house by applying a knife-edge approach to business. In April Noble appointed Li Rongrong, former chairman of the state-owned assets supervision and administration commission of China, as a non-executive director. The company lists its trade in paper derivatives as larger still, or about 10 million barrels a day. The report also details sales by a foreign Koch subsidiary of petrochemical equipment to Iran, which is subject to U.S. sanctions, and a history of criminal or civil penalties for oil spills, a deadly 1996 U.S. pipeline blast, and under-reporting of emissions of benzene, a carcinogen, from a Texas refinery in 1995. Founded in 1818 in Amsterdam, the company is the worlds No.1 oilseed processor. It has also dipped a toe in the upstream business. Arcadia has faced controversy before. While maintaining its historically conservative and prudent business approach, even in times of great market volatility, Mercuria reported a solid net income of USD 1.255 billion for the year 2021 and increased its investments in the energy transition that exceeded $1 billion. In the palm oil business, for example, it owns plantations, mills, refiners, shippers, bottlers and the distribution network, in both the top producers, Indonesia and Malaysia, and the top consumers, India and China. Elman, the companys chairman, holds around 30 percent of the company. Rich, now 76, would later end up on the FBIs most-wanted list for alleged tax evasion and trading oil from Iran after the revolution in 1979. In oil markets, Koch is a brutally efficient middleman. Many are unlisted or family run, and because they trade physical goods are largely impervious to financial regulators. China is becoming more like a Glencore, said Hinde. By 31/05/2022 fixation phare megane 3 Comments Off. It doesnt always work. In 2006 a tanker it chartered dumped toxic waste in Ivory Coast, allegedly making thousands ill and killing up to 16. The very public power struggle was all the more remarkable because the company normally keeps everything, from its precise earnings to the exact age of its main shareholder and chairwoman, a secret. With African investors Helios Investment it recently paid a billion dollars to buy Shells fuel marketing operation across 14 West African countries, keeping the Shell branding. I have known the citizen Timchenko for a very long time, since my work in St Petersburg, Putin told a group of Russian writers. Put it this way: two of them, Vitol and Trafigura, sold a combined 8.1 million barrels a day of oil last year. The jury is still out among rival traders on whether he made or lost a fortune that summer, a debate Lim is unlikely to settle publicly. NEW YORK (Reuters)- For the small club of companies who trade the food, fuels and metals that keep the world running, the last decade has been sensational. Il y a une transition qui est en train de se produire sur le march de lnergie en gnral. Though it began as a pure metals and oil trader, Glencore has bought a wealth of industrial assets since the late 1980s which now stretches from South American farmland to copper mines in Zambia. [27] [28] In 2021, Mercuria bought the clean energy specialist Beyond6 from HC2Holdings for $169 million. WHO: Hin Leong, founded 1963 supplying diesel to fishing boats. Le trader genevois Mercuria veut semparer du gant grec en faillite Aegean Marine Petroleum. It helps that the firm usually has the backing of Washington. No suggestions of wrong-doing were leveled against Dunand or Jaeggi. But Cargill is anything but public. Two decades ago, Chinese farmers fed their pigs just about anything they could lay their hands on. Vous tiez trs occup ces jours avec la runion de lOPEP, qui a dcid de couper sa production pour faire rebondir le prix du ptrole. Its a message that could apply just as well to the Louis Dreyfus group. Despite a relative lack of regulatory oversight, such reach does attract scrutiny. (Additional reporting by Jean-Francois Rosnoblet), WHO: Bunge, founded 1818 by Johann Peter Gottlieb Bunge in Amsterdam. A spike in world food prices in 2007 stirred an outcry against the largest grain trading firms; when oil prices surged to a record $147 a barrel in 2008, U.S. Congress probed the role of oil trading firms, but found no smoking gun. From the 43rd floor of a Rotterdam skyscraper, staff members can look out over a network of rivers toward some of Europes biggest refineries. Links: en.wikipedia.org. cookies Avez-vous un commentaire ce sujet? Like rival Vitol, Trafigura has seized the opportunity to get into oil storage as oil majors focus on production. Vous aviez dj financ le trader en dtresse Noble, on vous voit investir en Afrique du Sud, en Argentine, en Tunisie Quelle est la logique de toutes ces transactions? Cargill and Louis Dreyfus are the large missing players in the commodity trading space.. That strategy has often succeeded, though last month it found itself at the center of a dispute in the newly minted nation of South Sudan. Mercuria a reu cet automne le PrixGulf Intelligence, consultant spcialis dans le secteur ptrolier, pour sa croissance spectaculaire depuis 2004 vous tes passs de 11 1000employs. (Jessica Donati, Christopher Johnson, Ikuko Kurahone, Richard Mably, Dmitry Zhdannikov reported from London, Gus Trompiz from Paris, Caroline Copley from Zurich, Emma Farge from Benghazi, Karl Plume and Christine Stebbins from Chicago, Hugh Bronstein from Buenos Aires, Joshua Schneyer from New York, Luke Pachymuthu, Harry Suhartono and Naveen Thukral from Singapore; Editing by Richard Mably, Simon Robinson and Sara Ledwith), This story October 21 story was corrrected in the 17th paragraph to reflect that Trafigura paid a U.S. Customs fine on an Iraqi crude cargo in 2001, but denied wrongdoing; clarifies language on Trafiguras 2009 legal action to prevent a report on toxic waste dumping in Ivory Coast from being published. Sanctions targeted Gaddafi. Switzerland-based Glencore, whose initial public offering (IPO) in May put trading houses in the spotlight, pays some traders yearly bonuses in the tens of millions. And if you dont, youre out of there fast., WHO: ADM, formerly Archer Daniels Midland, founded 1902 by John Daniels and George Archer, Corn goes in one end and profit comes out the other.. A few traders seized the chance to buy what amounted to almost all the available supply. Vitols wealth is spread across only 330 share-holding employees, fewer than Glencores 500. It buys and sells multiple crops, mills and grinds and processes them into scores of products, both edible and not, and ships them to markets around the world. The warehouses seem to have an infinite capacity to absorb metal, but a very small capacity to release it, said Nick Madden of Novelis, the worlds top rolled aluminum producer. No sentimental attachments to any country or location. ENERGY TURNOVER: $75 billion 2011 company estimate (2010, $47 billion). WhatsApp. In the early 2000s, the Brent crude oil stream -- used as a global price benchmark -- fell to 400,000 barrels per day from more than 1 million in the late 1980s. Of the six major metals warehousers only one, Dutch-based C.Steinweg, remains independent. "We have committed as a company that, within five years, 50 per cent of all investments are going to be for the energy transition," co-founder Marco Dunand told the FT Commodities Global Summit. . Facebook. En ce moment, a se passe au tribunal, cest trs complexe, avec des avocats et des contrats qui font des centaines de pages. Arcadias chief executive in Singapore, Stephen Gibbons, denied the contents of the cable and told Reuters the kidnapping allegations were ludicrous. Non, videmment pas. Their reach is expanding. It bought UK-based metals warehouser and logistics firm NEMS in March 2010, a month after Goldman Sachs had acquired rival Metro and several months before Glencore and JP Morgan moved into the business. Un trader, cest un peu la mme chose: il ne demande pas la permission quand il doit acheter ou vendre. But by the end of April, a U.S. Treasury directive authorized the Vitol transactions. On a plus de 100traders, on leur donne des paramtres de risque mais lintrieur de ces paramtres ils ont un degr de libert. Founded 25 years ago by Briton Richard Elman, the Hong Kong-based, Singapore-listed Noble Group buys and sells everything from Brazilian sugar to Australian coal. The suit was settled out of court for an undisclosed sum. [5], 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. Notre capital est de quelque 3 milliards de dollars, ce que l'on appelle le net asset . Check if your Marco Dunand, Mercuria chief . When spot and futures prices began to converge, Koch would quietly slip crude from the ships into its onshore pipelines. Retrouvez tous nos articles consacrs aux matires premires. Filmed at key heritage sites all across Hong Kong, including Tai Kwun, Tang Tsing Lok Ancestral Hall and Kowloon Walled City Park, this documentary showcases Hong Kong's multicultural history. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. He spent time trading metal in Hong Kong before moving to New York and a stint at commodities trading giant Phibro. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Financement de concurrents en dtresse, projets ptroliers en Argentine ou en Tunisie, mine de charbon en Afrique du Sud: le ngociant en ptrole et nergie genevois Mercuria est sur tous les fronts. It also said its foreign units had ended sales to Iran years ago, and did not violate U.S. law by conducting business with Iran earlier. The government of Ivory Coast said 16 people died. What matters is results, and you can see that in the way they trade.. Comment slectionnez-vous vos projets? The winner? Quest-ce que ce prix rcompense au juste dans votre ADN? The godfather of oil trading, Marc Rich, taught one of his most talented apprentices Claude Dauphin almost every trick in the business. Tea Party movement. A fleet of tankers and Asias largest commercial storage facility are among the companys assets. They point to very competitive pricing offered by Gunvor when it comes to Russian oil tenders. A l'ouverture du sommet des matires premires de Lausanne, le FT Commodities Global Summit, le directeur de Mercuria, Marco Dunand, dcrit la concentration vcue par le secteur, les nouvelles sources de croissance et les dfis technologiques. Known as OK Lim, the founder of Singapores Hin Leong Group wants to build the company from oil trader into an integrated company. One of their secrets: filling the empty barges headed home. Dunand, chairman and chief executive, and Jaeggi, head of global trading, used Mercuria to expand their trading base from crude and oil products. A profile in the New Yorker magazine last year identified the brothers as behind-the-scenes operators who bankroll the U.S. Investors say he might already have his sights set on Brazil, to strengthen his position in the global sugar market. Les quipes travaillent ensemble depuis des annes, elles ont appris lADN de la bote tout en prenant des dcisions de manire autonome. We have a system that monitors the supply and demand needs, because often times they are working independently. Just Wait for the Fallout, From Chips to TikTok, Gina Raimondo Is at the Center of Bidens China Policy, Russian Airlines Are Still Flying High Despite Sanctions, The NFLsTop Talent Agency Bought by Venture Investors, BNP Ordered to Pay A Banker Fired Years After Alleged Sexual Harassment, A New Era of Books Helps Black Workers Navigate Corporate America, EU Strikes Landmark Deal to Fight Greenwashing in Bond Market, Singapore Fund Seeks $125 Million for Stoves in India, Kenya, Richest Atlanta District Inches Closer to Seceding From City, NYCs Shadow TransitNetwork SeeksaGreenerFuture, Kansas Citys $1.5 Billion Airport Renovation Spurs Hopes for Business Boom, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. Koch declined to discuss its trading with Reuters. Tornqvist, a former BP trader and keen yachtsman, says he doesnt share the vision of Mark Rich, the father of contemporary trading, that political links are the most prized asset in trading. A management shake-up this year at Frances most popular football club, Olympique Marseille, offers more proof of Margarita Louis-Dreyfus determination to defend her husbands legacy and impose hard financial choices. Peut-tre que notre spcificit, cest davoir une approche assez intellectuelle. Or this: Glencore in 2010 controlled 55 percent of the worlds traded zinc market, and 36 percent of that for copper. La dcision nest pas faite par moi tout seul ou avec Daniel Jaeggi [cofondateur de Mercuria] mais par le management team et, avant, par ce que nous appelons linterne les fdrations: oprations, tax, crdit, compliance, etc. The Kochs have denied funding the Tea Party, but their empires far-reaching tentacles in the political arena have spawned a nickname: the Kochtopus. Decatur, Illinois-based ADM is one of the worlds biggest commodities traders. (Podcast), Chairman/Co-Founder, Mercuria Energy Group Holding SA. In a 2009 State Department cable from Yemen, obtained by WikiLeaks and provided by a third party to Reuters, sources told U.S. diplomats that the company used intimidation tactics including kidnapping threats to buy Yemeni crude at below market prices. On sait que les choses sont relativement prcaires et on bosse normment, comme des malades. Marco Dunand and Daniel Jaeggi, both Swiss, have worked together closely for more than 25 years in a string of commodities companies, buying and selling crude and oil products in many of the hottest oil trading outfits: Cargill, Goldman Sachs J.Aron, Salomon Brothers Phibro and Sempra. The firms now controlled by the western-backed rebels might still legally be linked to Libyas national oil corporation. En plus, la technologie chamboule le commerce, et ces changements se produisent sur une priode relativement brve. Mercuria reported net income of $286m for 2015, up from $273m for 2014, said people familiar with the matter. Mais on fait un effort constant pour sassurer que les rgles sont respectes. In the Energy industry, Marco Dunand has 14,567 colleagues in 1,359 companies located in 76 countries. It became the first company to supply gasoline to the energy ministry after the war in 2003, and now is both a buyer of Iraqi crude and supplier of refined products. Comment le voyez-vous voluer? Hin Leong is joining hands with several Chinese firms to build the proposed Singapore refinery, even as it seeks to build a larger oil storage facility in the South Chinese province of Fujian. Marco Dunand: Nous avons remplac une facilit de crdit parce que les banques se sentent peu laise dans ce contexte et veulent sortir. Koch eventually pleaded guilty in 2001 to a felony charge related to its reporting of the benzene emissions. Trafigura took legal action to keep a report about the Ivory Coast incident out of newspapers, but details were eventually made public. They have some superstars but mostly a lot of team players -- what I would describe as well grounded, fundamental traders.. Switzerland-based Glencore cast aside its famed secrecy earlier this year with a record market debut that turned its executives into paper millionaires and propelled the firm into the headlines. Marco Dunand | Mercuria Energy Group | Swaziland Swiss native and oil industry professional; obtained a degree in Economics and Management from the University of Geneva. On a des activits diverses lintrieur de la compagnie, du trading pur aux financements structurs. Koch said its 90s-era pipeline blast was the only event of its kind in the companys history, and that a report to Texas regulators was voluntarily submitted by the company in 1995 to reflect higher emissions than it had originally reported. Outside the commodities business, many of these quiet giants who broker the worlds basic goods are little known. I never interfered with anything related to his business interests, I hope he will not stick his nose into my business either, Putin said. CEO Marco Dunand and President Daniel Jaeggi discussed the company's continued expansion and investment in the United States and the importance of American exports in the energy sector. Last year he surprised the market when he trumped Chinas Bright Food in a $1.5 billion deal to buy Australias Sucrogen. The top trading firms are price makers, said Chris Hinde, editor of London-based Mining Journal. 2. At times Cargills power has got it into trouble. Fredriksen became a leading oil shipping magnate well before buying Arcadia, in 2006. The Koch brothers, Chairman and CEO Charles and co-owner David Koch, are high-profile supporters of libertarian and anti-regulation U.S. politics. Wilmar is now the biggest soy player in China with a 20 percent market share, measured in processing capacity. marco dunand mercuria net worth . In April the company dodged NATO bombs and a naval blockade and sent an oil tanker into the battered Mediterranean port of Tobruk to extract the first cargo of premium crude sold by rebels at the helm of a breakaway Libyan oil company defying Muammar Gaddafi. After dropping out of school he began his career at 15 in a metals scrap yard in the UK. Glencore has said publicly it would see good value in a merger with Xstrata, but that has so far been rejected by other, smaller, shareholders. Koch benefits from privacy, and its astonishingly agile and profitable as is., The old guard now faces a challenge from a new breed of Asian competitors. [12], Mercuria is active players in energy and renewable markets through investments in the energy transition, with a particular focus on the United States and Europe. The companys early forays into trading gas and oil left it with a black eye. It is true that I, together with three other businessmen, sponsored a judo club where Mr Putin became honorary president, he wrote. Journalists in 50+ countries follow the constant flow of money made and lost in oil & gas while Asian demand for South American soybeans has exploded over the last five years and Bunge is arguably the best positioned company in the world as it relates to servicing and profiting from the Asian demand trend, said Jeff Farmer, an analyst who follows the company for Jefferies & Company in Boston. Cest un processus assez collgial. [9], Its subsidiaries include Navitas Energy in Canada[10] and Vesta Terminal Services in Europe,[11] which operates port logistics, storage and processing facilities in the Netherlands, Estonia, Belgium, and Germany. Trafigura paid a $200 million settlement and the countrys prosecutor declared that there was no evidence of any illegality or misconduct by any Trafigura company or staff. That comment, by Matt Damons character Marc Whitacre in the 2009 corporate scandal film The Informant, described how U.S. agricultural firm Archer Daniels Midland Co. turned grain into gold. It is also the largest producer of consumer pack edible oils with about 45 percent market share. But make no mistake, if you perform well at Koch, you are richly rewarded in salary terms, the person added. The French trading giant approached Olam with a merger proposal in 2010, but talks failed earlier this year. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Car, aux Etats-Unis par exemple, vous devez pouvoir envoyer des informations au rgulateur presque linstant, en un clic. In 2014, Mercuria bought part of JPMorgan's physical commodities trading business for a reported US$3.5 billion. Tornqvist says Gunvors goal is to become a truly global company. Founded in the 1920s by patriarch Fred Koch, a U.S. engineer who developed a new method of converting oil into gasoline, Koch helped to build a refining network in the Soviet Union in the 1930s. Belgium-born Rich joined Philipp Brothers, subsequently Phibro, aged 20, leaving in 1974 with a fellow graduate of the Phibro mailroom, Pincus Pinky Green, to set up Marc Rich and Co AG in Switzerland. WHO: Gunvor, founded 1997 by Swedish oil trader Torbjorn Tornqvist and Russian/Finnish businessman Gennady Timchenko, TURNOVER: $80 billion 2011, company estimate ($65 billion 2010). Owned oil company Marquard & Bahls dans le march de lnergie en gnral at the 16 companies with... [ 27 ] [ 28 ] in 2021, Mercuria energy group SA! Achieve this, it would be necessary to recruit the ( Ukrainian ) farmers to take an role! 100Traders, on a des activits diverses lintrieur de ces paramtres ils un... Reporting by Jean-Francois Rosnoblet ), who: Bunge, founded 1818 by Johann Peter Bunge., qui ne durent que jusquen mars, va persister se produisent sur une priode relativement brve, du pur. And delays, remains independent jouer un rle en facilitant la transition vers des carburants moins soufrs deal to Australias... Aux financements structurs 330 share-holding employees, fewer than Glencores 500 to converge, Koch a! 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