Oil Traders Line Up $7 Billion in Credit to Weather War Turmoil
The world’s biggest commodity traders are lining up billions of dollars in new credit lines as they position for further price spikes in oil and gas that could trigger giant margin calls.
Vitol Group, Trafigura Group and Gunvor Group have all been holding talks with banks to raise new credit lines in recent days as the Iran war sparks dramatic price swings across energy markets. Trafigura on Tuesday announced it had secured a $3 billion credit facility to provide a “liquidity buffer, if required during a period of heightened commodity price volatility.”
Vitol is also in talks to raise about $3 billion in credit, while Gunvor is seeking about $1 billion. (Bloomberg)
🚨 Manchester United managers ranked by their win percentage post Sir Alex Ferguson:
• 58.33% - Jose Mourinho
• 54.69% - Erik Ten Hag
• 54.17% - Ole Gunnar Solskjær
• 52.94% - David Moyes
• 52.43% - Louis Van Gaal
• 36.92% - Ruben Amorim.
— @Squawka
LONDON: A 15-year-old boy stunned a London courtroom after refusing to live with every family member the judge suggested claiming his parents, aunt, and grandparents had all beaten him.
With no relatives left to place him with, the judge asked who he wanted custody from.
The boy calmly replied:
“Chelsea FC. They can’t beat anyone.”
After checking legal guidelines, the judge granted temporary custody to the team.
That’s it, ladies and gentlemen.
@KotzeFrederick@ObserverNamibia The amount covered more than just the installation of toilets. Mix did not have existing services in the area, so the contractor had to build a long water pipeline and a sewer conservancy tank, along with the necessary earthworks, to make waterborne sanitation possible.
Think you're the Gordon Ramsay of the braai stand?
Want to prove it? The Shell Gas Cook-off is going down at the Windhoek Showgrounds this Friday, 3 October, 16h00 - 17h00. All self-proclaimed chefs ... here's your moment.
Email [email protected]#GasUpOrShutUp
News is depressing! The U.S. government shuts down and suddenly half the world’s aid is on 'pause', embassies stop working, and you can't even apply for a visa to go suffer in their economy. Meanwhile, they’re still funding wars like airtime never runs out. The world we live in.
Africa's most developed country, Mauritius doesn't have mineral resources.
Its primary export is sugar and sea foods. The country diversified its economy by promoting tourism.
It has been described as a tax taxen for having low corporation taxes with foreign tax credits.
UNAM, an institution that receives about N$1 bil in government funds every year has not published Annual Reports since 2017, and our main concern is tent food. 👏🏾
ABOUT LAST NIGHT!
We were recognised for our Namibian Recycling initiative at the Vivo Awards under the Planet category.
#TeamVivoEnergyNamibia#PlanetFirst