|Bid||380.00 x 1586300|
|Ask||387.00 x 294500|
|Day's Range||381.00 - 386.70|
|52 Week Range||228.25 - 386.70|
|PE Ratio (TTM)||13.10|
|Dividend & Yield||0.07 (1.45%)|
|1y Target Est||N/A|
For major trading houses that ship millions of barrels of oil every day, the prospect of diminishing fuel demand and a shift to renewable power poses a brain-racking challenge with few obvious solutions. "It is a very fair question - what the hell are we going to do?" said Ian Taylor, chief executive of the world's top oil trader Vitol, which trades seven percent of the world's oil. Vitol, as well as rivals including Glencore (GLEN.L) and Gunvor, sees many growth opportunities in the bread-and-butter business of oil trading as economies in Asia, Latin America and Africa grow producing demand for oil.
Glencore has a standstill agreement that temporarily prevents it from making a hostile bid for Bunge, according to people familiar with the matter, raising the possibility Glencore will renew its effort ...
Shares of U.S. commodities trader Bunge Ltd surged on Friday after the Wall Street Journal reported that Glencore PLC had a standstill agreement that temporarily prevents the Swiss company from making a hostile bid for Bunge. Bunge had rebuffed a takeover approach by Glencore in May. Speculation has swirled for months that Glencore would make another takeover approach. The standstill agreement suggests it is still interested in a deal and may be only biding its time, the newspaper said.
A group of investors including buyout firm Apollo and pension fund Canada Pension Plan (CPP) is bidding for coal assets put up for sale by mining giant Rio Tinto (RIO.L), which could fetch $2 billion (1.52 billion pounds), sources familiar with the matter told Reuters. The sale, run by Credit Suisse, of the Kestrel and Hail Creek coking coal mines is part of Rio's (RIO.AX) planned exit from Australian coal to focus on iron ore, copper and aluminum.
Glencore (GLEN.L) looks set to cement its position as the world's second-largest oil trader as it tries to offset low volatility and tight margins with record volumes this year, its global head of oil, Alex Beard, told Reuters. The figure represents around 6 percent of global supply and only rival Vitol trades more oil, at some 7 million bpd. Beard said trading conditions had become difficult this year due to low oil price volatility and a reversal in the oil price curve, which has stopped encouraging oil storage after backdated prices flipped from a premium to a discount to prompt prices.
Africa’s biggest fund manager is interested in taking part in the acquisition by Glencore Plc and a group of black South African-owned companies of Chevron Corp.’s assets in the country, according to three ...
South Africa plans to engage with traders who acquired strategic oil reserves two years ago, even as it prepares legal action to try to cancel the deal.
The deal takes Chevron's (CVX) $15 billion divestment program forward as the company remains focused to slash costs and streamline business models.
Commodities trader and miner Glencore (GLEN.L) has swooped in to replace China's Sinopec as the buyer of Chevron's South African and Botswana assets after reaching a deal with local investors. The assets include a 100,000 barrel-per-day oil refinery in Cape Town, a lubricants plant in Durban as well as 820 petrol stations and other oil storage facilities. It also includes 220 convenience stores across South Africa and Botswana.
Commodities trader and miner Glencore has swooped in to replace China's Sinopec as the buyer of Chevron's South African and Botswana assets after reaching a deal with local investors. The assets include a 100,000 barrel-per-day oil refinery in Cape Town, a lubricants plant in Durban as well as 820 petrol stations and other oil storage facilities.
Mining giant Glencore (GLEN.L) and its partners are proposing to repay part of $3 billion (£2.3 billion) owed on the world's most expensive coal terminal, two lenders familiar with the matter said, in a bid to stave off a rapidly approaching deadline for full repayment. If the refinancing fails to go ahead by next September, loan terms require Glencore and four remaining partners in Wiggins Island Coal Export Terminal (WICET) on Australia's east coast to pay off the full amount over the following decade. WICET first proposed the restructuring to the lenders' representative, McGrathNicol, last week, according to the people, who have knowledge of the financing talks but declined to be identified because negotiations were confidential.
By Helen Reid and Julien Ponthus LONDON (Reuters) - A sharp fall in sterling boosted Britain's main share index on Thursday, with basic resources and oil and gas stocks contributing most to the upswing. ...
In October 2015 Glencore stunned metals markets with a dramatic intervention in one of its most important commodities. The Swiss-based miner and trader announced plans to cut a third of its zinc production, ...
Two years ago, the world’s largest zinc miner needed to cut production to turn around a bloated market. Now, supply is the tightest in years and Glencore Plc wants to get bigger.
Glencore PLC said it could invest nearly $1 billion in a Peruvian zinc operation, another sign the Swiss mining and trading giant is opening its cash hoard for acquisitions as rebounding commodity prices ...
Glencore, which has been a shareholder in Volcan since 2004 and holds a 7.68 economic interest, said it was buying at least 26.73 percent of the voting shares. The Lima stock exchange suspended trade in Volcan's shares following the deal. Glencore's London-listed shares closed up 0.8 percent at 354.15 pence.
Striking workers at North America's second-largest zinc processing plant, owned by the Noranda Income Fund, have rejected a wage and pension offer from the company, Noranda and the union representing workers said on Tuesday. Ninety-seven percent of the 371 workers who have been on strike at the facility in Quebec for eight months rejected the offer, the United Steelworkers of America union said in a statement. London zinc prices have more than doubled since the beginning of 2016 on tightening supply after a flurry of global mine closures.
Glencore Plc plans to increase its stake in Peruvian zinc miner Volcan Compania Minera S.A.A., boosting its bet on soaring zinc prices.
By Kit Rees LONDON (Reuters) - The UK's top share index rose to a four-week high on Monday as homebuilders rallied thanks to an extension of a government housing scheme, while airlines and miners also ...
Britain's FTSE signed off September with a monthly loss on Friday, underperforming continental peers in a month that saw sterling shoot to its highest level since the Brexit vote. The FTSE 100 (.FTSE) index ended Friday's session 0.7 percent higher at 7,372.76 points, however, as GDP data showing that UK growth slowed to a four-year low in the second quarter put pressure on sterling on the day. While the disappointing GDP data stoked doubts as to whether the Bank of England would raise rates at its next meeting in November, recent hawkish rhetoric from the central bank has supported the pound.