Contango Trading to return oil acquired “fraudulently” from the South African Fuel Fund
The commodities trading company has received $104 million from the state-owned entity in charge of managing the country’s crude oil inventories.
10/05/2021 at 16h17, by Africa Business+
Unlike its Swiss competitor Glencore, which decided to return all the oil acquired from the former management team of the Strategic Fuel Fund Association of South Africa (SFF), Contago Trading, a subsidiary of the French Natixis, continues to claim the validity of “part of the transaction” closed in December 2015.
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