Mercuria Energy Group
Encyclopedia
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. . Their primary competitors are Swiss commodity houses Glencore
and Vitol
, US based trader Cargill
and Hong Kong/Singapore based Noble Group
.
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 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
and Electrabel
in London . Mercuria's 2010 revenue was US$47 billion, having quadrupled from $8.6 billion in 2005.
It has subsidiaries worldwide, including Navitas Energy in Canada and Vesta Terminal Services in Europe, 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. 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. 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.
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
(including LNG), power, coal, biodiesel
Biodiesel
Biodiesel refers to a vegetable oil- or animal fat-based diesel fuel consisting of long-chain alkyl esters. Biodiesel is typically made by chemically reacting lipids with an alcohol....
, 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
Geneva
Geneva In the national languages of Switzerland the city is known as Genf , Ginevra and Genevra is the second-most-populous city in Switzerland and is the most populous city of Romandie, the French-speaking part of Switzerland...
, Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
, 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. . Their primary competitors are Swiss commodity houses Glencore
Glencore
Glencore International plc is a multinational mining and commodities trading company headquartered in Baar, Switzerland and with its registered office in Saint Helier, Jersey...
and Vitol
Vitol
The Vitol group is an energy trading company founded in Rotterdam in 1966. Vitol operates worldwide and, along with Glencore and Trafigura, is one of the world's top three crude oil traders. Vitol's headquarters are located in Rotterdam, the Netherlands and Geneva, Switzerland...
, US based trader Cargill
Cargill
Cargill, Incorporated is a privately held, multinational corporation based in Minnetonka, Minnesota. Founded in 1865, it is now the largest privately held corporation in the United States in terms of revenue. If it were a public company, it would rank, as of 2011, number 13 on the Fortune 500,...
and Hong Kong/Singapore based Noble Group
Noble Group
Noble Group Limited is a global conglomerate manager of agricultural, industrial and energy products. Noble manages a diversified portfolio of essential raw materials, integrating the sourcing, marketing, processing, financing and transportation....
.
Mercuria was founded in 2004 by Marco Dunand and Daniel Jaeggi, then executives at Phibro—the commodities trader sold by Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
to Occidental Petroleum
Occidental Petroleum
Occidental Petroleum Corporation is a California-based oil and gas exploration and production company with operations in the United States, the Middle East, North Africa, and South America...
in 2009—and previously at Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
. Until 2007, Mercuria was called the J&S Group and focused mostly on oil trading. As they have expanded, they have hired away traders and investment professionals from across Europe, particularly Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
, Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
, Louis Dreyfus Group
Louis Dreyfus Group
Louis Dreyfus Group is a diversified French private company that is involved in agriculture and energy commodities...
and Electrabel
Electrabel
Electrabel is a Belgium-based energy corporation. It is a subsidiary of GDF Suez.-History:Electrabel was established in 1905. Its actual name originates from 1990, after the regrouping of the companies Intercom, Ebes and Unerg....
in London . Mercuria's 2010 revenue was US$47 billion, having quadrupled from $8.6 billion in 2005.
It has subsidiaries worldwide, including Navitas Energy in Canada and Vesta Terminal Services in Europe, 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. 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. In 2010, Mr Dunand raised speculation that Mercuria may follow Glencore
Glencore
Glencore International plc is a multinational mining and commodities trading company headquartered in Baar, Switzerland and with its registered office in Saint Helier, Jersey...
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.