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Trafigura hits milestone in oil trade

Trading house Trafigura traded more than four million barrels of oil a day during the first six months of the fiscal year for the first time ever in the history of the company.

Photo: /ritzau/Nabil al-Jurani/Arkiv

Geneva-based trading house Trafigura earned USD 602 million in the first half of the year which had its fiscal end on the 31st of March. The result is 10 percent less than in the same period last year but 40 percent above the preceding six months, according to the interim report released Tuesday from the trade company where oil is the largest business.

The trade with oil and petroleum products was, according to Trafigura, especially significant when daily volumes hit four million barrels for the first time in the history of the company. The oil division's traded volumes of more than four million barrels a day were 46 percent above the level in the same period last year and a doubling compared to 2012.

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