Third Party Lease Purchase Contracts With Canadian Oil Producers To Transfer To Trafigura
CALGARY, Alberta, April 17, 2015 /CNW/ — Trafigura Canada General Partnership (“Trafigura”) has today signed an agreement with Nexen Marketing to transfer its third-party lease business in Canada to Trafigura.
“Trafigura’s core business is physical trading and logistics,” said Iain Singer, Head of Trafigura Canada. Founded in 1993, the Trafigura Group has become one of the world’s leading independent commodity traders, specialising in the oil, minerals and metals markets. The company has achieved substantial growth in recent years, with assets in excess of USD39 billion and revenue in 2014 of USD127.6 billion.
Trafigura has served Canadian producers from its Calgary based operations for the past ten years. “We have a proven track record of providing Canadian producers with competitive pricing and high levels of operational expertise and technical support, backed by our strong balance sheet,” said Iain Singer. “Today’s announcement positions Trafigura as one of the largest third party crude aggregators in Western Canada, and further emphasizes our long-term commitment of growth in the region.”
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world. The trading business is supported by industrial and financial assets, including 49 percent owned global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura’s Mining Group; 50 percent owned DT Group which specialises in logistics and trading; and Galena Asset Management. The Company is owned by over 600 of its almost 5,300 employees who work in offices in 36 countries around the world. Trafigura has achieved substantial growth over the last ten years, growing turnover from USD12 billion in 2003 to USD128 billion in 2014. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade.
SOURCE Trafigura Canada General Partnership