LONDON, April 30 Trading major Trafigura is
beefing up its Russian offices and has hired former top traders
from BP and TNK-BP as it seeks to expand its presence in
the world's largest crude producer, the company and trading
The Swiss-based firm is hiring Jonathan Kollek, who has long
served as vice-president of trading at TNK-BP, Russia's third
largest oil firm, bought earlier this year by state champion
Rosneft for $55 billion, three sources familiar with
the move said.
Trafigura will also hire Elena Lobodina, who previously
worked at BP's Moscow offices and replaced Kollek at TNK-BP last
year, sources said.
Trafigura has selected a team of senior managers with a
"world-class track record" to significantly develop its
businesses in Russia and the former Soviet Union, the company
said in a statement, without naming new hires.
"The potential in Russia is enormous and if we are able to
marry Trafigura's international expertise with Russia's
substantial resources and talents, we will create great value
for all involved and substantially contribute to the economic
growth of the local economy," said Mike Wainwright, Chief
Operating Officer at Trafigura Beheer BV.
Rosneft has become the world's largest publicly-listed oil
producer thanks to the acquisition of TNK-BP from BP and four
Rosneft has financed the acquisition partly through a $10
billion trade finance deal with Glencore and Vitol, which
allowed the two trading houses to cement their positions as
leading exporters of Russian oil.
Trafigura, the world's third largest trader in raw material,
had a smaller exposure to Russian oil in recent years compared
with Vitol and Glencore. The company's main exposure to Russian
oil was through annual tenders by TNK-BP.
(Reporting by Dmitry Zhdannikov; Editing by Anthony Barker and