Contango Trading to return oil acquired “fraudulently” from the South African Fuel Fund

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.

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            ▪ 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.

https://www.jeuneafriquebusinessplus.com/en/807839/contango-trading-to-return-oil-acquired-fraudulently-from-the-south-african-fuel-fund/

10/05/2021 at 16h17, by Jeune Afrique 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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