Tag Archives | Glencore

Glencore seeking to Increase Oil Trading with Iran

By John Lee. Reuters reports that Glencore is seeking to increase oil trading with Libya, Iran and Iraq to beat what looks to be a much tougher trading environment compared with last year. Alex Beard, the company’sĀ global head of oil, told the Reuters Commodities Summit, “we are currently lifting products from (Iran’s) NIOC and private […]

Glencore in talks to Develop Iran’s Copper Industry

By John Lee. Glencore is reported to be holding discussions with Tehran about setting up a copper industry in Iran. Iran wants to expand its copper production to 10 times the current levels by 2025, The Times said on Friday. While the Iranian government has signed a deal with commodities giant Glencore, Tehran has also […]

First Western Company to Load Iranian Oil

By John Lee. Swiss-based Glencore has become the first Western company to load oil of energy-rich and sanctions-free Iran. The Wall Street Journal reports that a tanker chartered by Glencore loaded 80,000 metric tons of fuel oil at Bandar Mahshahr on Friday and left for the United Arab Emirates (UAE). Oil Minister Bijan Zanganeh said […]