Hints and tips:
...So Phibro’s traders set about stuffing every tanker they could find with cheap oil....
...While it is more than a year since Mr Ross left Pira, he remains intimately involved in the market with his own hedge fund Black Gold Investors LLC, where his son is the top trader....
...Before that he was an energy trading portfolio manager for Phibro Energy....
...A partnership founded by Simon Greenshields, previously global co-head of commodities at Morgan Stanley, has acquired the Phibro LLC name and what remains of its business from Occidental Petroleum after...
...“A trader lives by his wits,” Ludwig Jesselson, Phibro’s longtime chief, used to say. The inflationary 1970s were go-go years for Phibro....
...The $5bn oil trading firm, part-owned by Phibro, has returned 13.5 per cent so far....
...Isabelle Ealet of Goldman Sachs was a at predecessor of Total of France; at Barclays Capital, Roger Jones used to work at Cargill and Phibro; Jonathan Whitehead of Société Générale and Citigroup’s Stuart...
...In addition to Shell, oil companies such as BP, Statoil of Norway and Total of France and trading houses such as Vitol, Glencore and Phibro are among the largest players in the Brent market....
...Others, including Astenbeck Capital, the Phibro-owned fund run by Andrew Hall, are thought to have taken double-digit percentage point losses to their portfolios, say investors....
...Others, including Astenbeck Capital, the Phibro-owned fund run by Andrew Hall, are thought to have taken double-digit percentage point losses to their portfolios, according to investors....
...The $2.2bn Astenbeck Capital, launched last year by Phibro oil trading star Andrew Hall, saw its flagship fund return 4.2 per cent in February, said an investor....
...Astenbeck Capital, the $2.6bn Phibro-owned oil fund run by superstar trader Andrew Hall and named after the location of his German castle, lost 12 per cent....
...Mr Hall is head of Phibro, the oil and gas trading unit that Citi sold to Occidental Petroleum last year under government pressure over his potential $100m pay package....
...Placement agents have been drumming up business on behalf of Hall and other Phibro managers, seeking a minimum $25m each from investors....
...Under the deal, Mr Hall and other Phibro traders have agreed to delay receipt of their 2009 pay....
...US government pressure over a potential $100m pay package in 2009 for Mr Hall forced Citi to part with Phibro....
...Occidental has said that Phibro’s trading will be separate from the company’s energy trading operations, though Occidental employees will oversee Phibro risk controls....
...Citigroup is working on a sale of Phibro, its controversial commodities trading unit, in a move that could raise hundreds of millions of dollars and deflect political anger over a potential $100m payout...
...Related links: Why Paul Volcker HEARTS Citigroup’s Phibro sale – WSJ 10 things you didn’t know about Phibro and Andrew Hall – WSJ Citi can’t keep Phibro – Felix Salmon...
...SAYS SIGNED AN AGREEMENT TO PURCHASE PHIBRO LLC FROM CITIGROUP INC RTRS-OCCIDENTAL SAYS PHIBRO’S MANAGEMENT TEAM, HEADED BY ANDREW HALL, AND ITS EMPLOYEES WILL REMAIN WITH THE COMPANY AFTER CLOSING As...
...- New ‘socialism‘ made Citi sell Phibro. - I’m an executive get me out of here! - More on bank bondage (and the end of QE). - George Soros makes money and PR. - Pumping down the gas....
...The sale price, said to be about Phibro’s net asset value of $250m, would have been a steal even at the height of the financial panic....
...The secretive Phibro unit sometimes provide the bulk of revenues for its parent company....
...In case you missed these stories, - Citi to sell Phibro unit to Occidental Citigroup said on Friday it has sold its controversial commodity unit Phibro to Occidental Petroleum, for a cut price amid US...
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