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Trafigura is a multinational commodity trading company domiciled in Singapore with major regional hubs in Geneva, Houston, Montevideo and Mumbai, founded in 1993. The company trades in base metals and energy. It is the world's largest private metals trader and second-largest oil trader having built or purchased stakes in pipelines, mines, smelters, ports and storage terminals. Trafigura was formed by Claude Dauphin and Eric de Turckheim in 1993, but quickly split off from a group of companies managed by Marc Rich. Trafigura has been named or involved in several scandals, particularly the 2006 Ivory Coast toxic waste dump, which left up to 100,000 people with skin rashes, headaches and respiratory problems. The company was also involved in the Iraq Oil-for-Food Scandal. History Trafigura Beheer BV was established as a private group of companies in 1993 by six founding partners: Claude Dauphin, Eric de Turckheim, Graham Sharp, Antonio Cometti, Daniel Posen and Mark Crandall. Initially focused on three regional markets – South America (oil and minerals), Eastern Europe (metals) and Africa (oil) – Trafigura has since diversified and expanded globally. In November 2013, it was announced that Tory peer and former leader of the House of Lords Baron Strathclyde, Thomas Galbraith would be joining Trafigura as a non-executive director. He had previously stood down from the board of the group’s hedge fund arm following the 2009 controversy over the Côte d'Ivoire incident. Executive chairman Claude Dauphin and the last remaining founder in an executive position, owned less than 20 per cent of the group’s equity at his death in September 2015, while more than 700 senior managers control the rest. Investments In 2003, the group established its fund management subsidiary, Galena Asset Management. In 2010, Trafigura bought 8% of Norilsk Nickel. On 24 May 2007, an explosion occurred in Sløvåg Gulen, Sogn og Fjordane, Norway in a tank owned by Vest Tank, that had severe environmental and health consequences for people living nearby. In 2008 the Norwegian Broadcasting Corporation published the 50 min documentary "Dirty Cargo" disclosing what had happened in the small community prior to the explosion. The company Vest Tank was trying to neutralize the same kind of chemical waste that was dumped in Côte d'Ivoire when the explosion occurred. The owner of the waste was Trafigura, on whose behalf Vest Tank was working. Even so, Norwegian authorities did not prosecute Trafigura and the company was not accused of direct responsibility in the Vest Tank incident. Requests by Norwegian police to interview Trafigura employees were not granted by the company. In February 2013, Trafigura invested $800 million in the Australian energy market, acquiring more than 250 petrol stations, two oil import terminals and five fuel depots in three separate acquisitions by its subsidiary Puma Energy. At the time, there was interest in Australia among energy traders due to a combination of rising demand and the closure of outdated, high-cost refineries. The same month, Trafigura joint venture DT Group partnered with Angola’s state oil firm Sonangol to form a new company, Sonaci DT Pte Ltd, to market Angola’s new liquefied natural gas (LNG) exports. In March 2013, Trafigura announced a deal with South Sudan to export Dar Blend crude oil from Port Sudan. The agreement with South Sudan was a continuation of Trafigura's longtime presence in the Sudanese oil market and followed the resolution of a legal dispute between Sudan and South Sudan over transit fees and oil revenues. In October 2013 Trafigura secured USD 1.5 billion in financing for an upfront loan to Russian oil producer OAO Rosneft. The prepayment facility, which provided a loan for advance payment for more than 10 million tons of products over five years, was the largest such deal ever completed by Trafigura. A month later Trafigura signed an agreement with Dallas-based pipeline operator Energy Transfer Partners to transport crude oil and condensate via a partially converted 82-mile pipeline from the Eagle Ford oil field in McMullen County, Texas, to Trafigura’s deep-water terminal at Corpus Christi Bay, near the Gulf of Mexico. In February 2014, Trafigura signed an agreement to acquire a 30% equity stake in the Jinchuan Group's newly established 400,000 tonnes-per-year copper smelter in Fangchengang, China. In July, Trafigura launched Lykos, an online platform in India to sell metals to small and medium-sized manufacturers in the country. In September, Trafigura completed the $860 million sale of an 80% stake in a Corpus Christi Texas oil storage terminal to Buckeye Partners LP. In June 2015, Trafigura announced a 50:50 joint venture with Abu Dhabi investment company Mubadala Development Company—to invest in base metals mining. As part of the agreement Mubadala also acquired 50% of Trafigura's Minas de Aguas Teñidas (Matsa) mining operation, which owns three mines in southern Spain that produce copper, zinc and lead concentrate ores. This followed a doubling of processing capacity at the company's MATSA mining operation in Andalusia, Spain, where two new satellite mines are also being developed. In August 2015, it was reported that Trafigura subsidiary Impala Terminals is investing USD1 billion in Colombia to develop a new inland road, rail and river network connecting major coastal ports with Colombia's industrial heartland. The Magdalena River, which runs between Barrancabermeja inland and Barranquilla on the Atlantic coast, will allow transportation of crude oil and petroleum products, dry bulk, containerised and general cargo to and from inland Colombia. In October 2016, it was announced that Trafigura and Russian investment group United Capital Partners would each take a 24 per cent stake in Essar Oil, which owns India’s second-biggest private refinery in the western state of Gujarat as well as a network of 2,700 filling stations. Trafigura was criticised in December 2022 for handing out "more than $1.7bn (£1.4bn) to its top traders and shareholders after the energy crisis, fuelled by the war in Ukraine". In 2022, the Lobito Atlantic Railway (LAR), a joint venture between Trafigura, Mota-Engil of Portugal, and independent Belgian rail operator Vecturis, secured a 30-year concession to operate the Lobito rail corridor, which runs across Angola to the Democratic Republic of the Congo (DRC). To mark the transfer of the concession, a ceremony was held on 4 July 2023 in Lobito, with Presidents João Lourenço of Angola, Félix Tshisekedi of the DRC, and Hakainde Hichilema of Zambia in attendance. The concession encompassed the 1,300 kilometre Benguela railway corridor in Angola, extending it 400 kilometres into the DRC, and any potential service extensions in Zambia. The three countries signed an agreement to accelerate growth in domestic and cross-border trade along the corridor. The new company committed to upgrading infrastructure and services, in.... Discover the Bv Lawson popular books. Find the top 100 most popular Bv Lawson books.