- Mercuria Energy Group
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Mercuria Energy Group 
Type Private company Industry Raw materials / Energy / Merchant Founded 2004 Headquarters Geneva, Switzerland
(Head office)
Geneva, Switzerland
(Registered office)Revenue US $ 47.2 billion (2009)[1] Employees 350 in marketing and trading, 2,000+ in industrial production through subsidiaries (2006) Website www.mercuria.com Mercuria Energy Group Ltd is a privately-owned international group of companies active over a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas (including LNG), power, coal, biodiesel, vegetable oils, and carbon emissions.
They are one of the world's five largest independent energy traders and asset operators and are based out of Geneva, Switzerland, with 28 additional offices worldwide.
Mercuria moves about 1.5m barrels a day 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 under construction in Germany and the Netherlands. [2]. Their primary competitors are Swiss commodity houses Glencore and Vitol, US based trader Cargill and Hong Kong/Singapore based Noble Group [3].
Mercuria was founded in 2004 by Marco Dunand and Daniel Jaeggi, then executives at Phibro—the commodities trader sold by Citigroup to Occidental Petroleum in 2009—and previously at Goldman Sachs. Until 2007, Mercuria was called the J&S Group[4] and focused mostly on oil trading. As they have expanded, they have hired away traders and investment professionals from across Europe, particularly Morgan Stanley, Goldman Sachs, Louis Dreyfus Group [5] and Electrabel in London [6]. Mercuria's 2010 revenue was US$47 billion[7], having quadrupled from $8.6 billion in 2005[8].
It has subsidiaries worldwide, including Navitas Energy in Canada[9] and Vesta Terminal Services in Europe[10], which operates port logistics, storage and processing facilities in the Netherlands, Estonia, Belgium, and Germany. In November 2010, Mercuria Energy bought MGM International Group from Morgan Stanley Capital Group Inc. and MGM International LLC[11]. The Miami, Florida-based MGM International Group is developer of international projects to reduce greenhouse gas emissions and trades in global carbon markets.
The company recently arranged debt financing of 2.5 billion to fund expansion through asset purchases in Europe and North America. [12] In 2010, Mr Dunand raised speculation that Mercuria may follow Glencore into the public markets by saying that they did not require additional capital immediately, but may go public within 2-3 years particularly if that allowed them to purchase assets that they could not otherwise afford. [13]
References
- ^ Financial Highlights
- ^ http://www.mercuria.com/Mop/Site/media/news_releases.php?ID=92&mode=
- ^ http://www.telegraph.co.uk/finance/commodities/8451455/Top-ten-global-oil-and-commodities-traders.html
- ^ J&S Group http://www.jandsgroup.com/main_en.html
- ^ http://www.metalbulletin.com/Article/2753880/Louis-Dreyfus-metal-traders-investment-managers-will-join-Mercuria-Energy.html
- ^ Topix http://www.topix.com/cy/larnaca/2007/09/mercuria-hires-three-traders-from-electrabel-to-set-up-a-gas-power-desk
- ^ Reuters http://uk.reuters.com/article/oilRpt/idUKL1934601120070919
- ^ Reuters http://www.reuters.cz/article/idUSL1744428820070417
- ^ Navitas Energy http://www.navitasenergy.com/
- ^ http://www.vestaterminals.com/
- ^ CEOWORLD Magazine http://ceoworld.biz/opinion/mercuria-energy-group-ltd-buys-mgm-international-from-morgan-stanley/
- ^ http://www.businessweek.com/news/2011-05-03/mercuria-energy-lenders-market-1-25-billion-credit-line.html
- ^ http://www.reuters.com/article/2010/05/27/us-energy-summit-mercuria-idUSTRE64Q4BI20100527
External links
Categories:- Oil and gas companies of Switzerland
- Oil traders
- Petroleum company stubs
- Swiss company stubs
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