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Oil Trader Trafigura Quits Swiss Lobby Group on Transparency

  • Trafigura splits with STSA on differences over transparency
  • STSA has not endorsed members joining EITI payment disclosure
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Trafigura Group Pte, the world’s second-largest oil trader, withdrew its membership from the Swiss Trading and Shipping Association after disagreeing with the industry lobby group over efforts to improve transparency in the commodity-trading sector.

Trafigura concluded it will be “better positioned to pursue the initiatives promoting transparency and responsible business practices to which we are committed outside the structures of the STSA,” according to an e-mailed statement.