Energy
Cash-Rich Energy Traders Are Snapping Up Refineries From Big Oil
- Trading houses are buying downstream assets like refineries
- Deals give traders better insight, influence in oil markets
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Commodities traders flush with cash are buying oil refineries that energy majors are increasingly turning their back on.
It’s one of the areas where trading houses — who have long coveted the refining and distribution assets that help drive oil majors’ mega trading earnings — are investing huge returns from the most profitable period in their histories.