Glencore is a long-standing partner of Russneft, whose oil and oil products it trades and in which it holds a minority stake. Glencore joins mining majors in launching apprenticeship program June 3, 2020 News Tara Hamid Tara Hamid Glencore’s electrical apprentice Nick Watson at the Hunter Valley Skills Centre. News of the Chad oilfields sale coincides with the retirement of Glencore’s head of oil Alex Beard at the end of this month and the separation of its upstream oil interests from marketing. All other commodities' offtake, including cobalt, nickel and lead, declined in the period. Glencore PLC said Friday that production across most of its commodities declined in the first half of the year, and revised down full-year guidance … In addition, coal production fell 15% and oil output dropped 17%. The facility accounts for about 14% of the nation’s total fuel-refining capacity.Glencore’s local unit acquired 75% of Astron Energy last year.
The generational shift at the top of Glencore continues with the company announcing the retirement of Alex Beard, the long-serving head of its oil business.. Source: South Africa Police Service Source: South Africa Police Service A unit of Glencore Plc said two people died in an explosion and a fire at its oil refinery in Cape Town.
"Although some of our industrial operations were temporarily suspended in line with national and regional guidance, or where our risk assessment determined a suspension was appropriate, the majority of our assets continued to operate relatively normally," Chief Executive Ivan Glasenberg said. However, zinc was up 3%. "Although some of our industrial operations were temporarily suspended in line with national and regional guidance, or where our risk assessment determined a suspension was appropriate, the majority of our assets continued to operate relatively normally," Chief Executive Ivan Glasenberg said.The company said its marketing business performance was strong in the first half of the year, and that it has raised 2020 expectations for marketing EBIT to the top of its long-term range of $2.2 billion-$3.2 billion.The FTSE 100 mining and energy company said its production of copper fell 11% on a year-on-year basis. The company made nearly $1 billion in earnings before interest and taxes in oil trading in the first six months of 2020, similar to what the company made in the whole of 2019, people familiar with the matter said last week. Glencore Plc said trading profit will be at the top end of its target this year as the commodities giant joins big oil companies enjoying a bonanza from volatile price swings. Scherbak remains a Russneft board member from Glencore… All work has been stopped and the company will conduct an investigation, said Astron Chief Executive Officer Jonathan Molapo.An annual maintenance shutdown had been underway at the 100,000 barrel-a-day refinery, which was expected to restart this month, according to the South African Petroleum Industry Association. Glencore’s traded oil volumes fluctuated between 4.5 and 6.0 million barrels per day in recent years - on par with rival Trafigura but behind the world’s top trading house, Vitol. The damaged Astron Energy Ltd. refinery in Cape Town, South Africa, on July 2.Source: South Africa Police ServiceThe head of safety and security in Cape Town had earlier told CapeTalk radio that three people died in the blast.
The refinery was previously owned by a South African unit of Chevron Corp.The damaged Astron Energy Ltd. refinery in Cape Town, South Africa, on July 2.