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Cash-Rich Energy Traders Are Snapping Up Refineries From Big Oil - Bloomberg

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Cash-Rich Energy Traders Are Snapping Up Refineries From Major Oil - Bloomberg

Energy

Cash-Rich Energy Traders Are Snapping Up Refineries From Big Oil

- Trading houses are buying downstream assets like refineries
- Deals give traders better insight, influence in oil markets

Commodities traders flush with cash are buying oil refineries that energy majors are increasingly turning their back on.

It’s one of the areas where trading houses — who have long coveted the refining and distribution assets that help drive oil majors’ mega trading earnings — are investing huge returns from the most profitable period in their histories.

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Related Knowledge Center: ENERGY BASICS: petroleum

State of Play

While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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