Energia
Oil Brokerage Acquires Blue Commodities, Expanding Physical Broking Capabilities
Under the terms of the agreement, Blue Commodities will fold into Oil Brokerage and OTC Global Holdings. The acquisition represents a significant step forward in OB's goal of providing an integrated service offering that span physical broking, derivatives, and shipping markets. The inclusion of Blue Commodities enhances OB's capabilities in the middle distillates and fuel markets, complementing OB's well-established presence in gasoline, derivatives, and shipping.
Jon Pike , CEO of Blue Commodities, will transition to the role of Chief Operating Officer (COO), Physical, at Oil Brokerage, leading the newly integrated team. Commenting on the acquisition, Pike noted:
Oil Brokerage, already a dominant player in the gasoline market, sees the acquisition of Blue Commodities as a key component in strengthening its offerings in physical broking. Blue Commodities' established expertise in NWE, Med, and WAF regions brings invaluable knowledge and relationships, offering OB an immediate foothold in markets that traditionally require long-term organic growth.
James McNicol , CEO of Oil Brokerage, commented on the acquisition:
Blue Commodities' leadership team, including Desk Heads Jack Bithell (Fuel), Ben Zahavi (WAF), Paul Hart (Med ULSD), and Pete Ingleton & John Collins (NWE ULSD), will remain intact, ensuring that clients continue to benefit from their extensive market expertise and established relationships.
The acquisition also aligns with OTC Global Holdings' strategy to expand its footprint in physical broking.
Joe Kelly , Co-CEO and President of OTC Global Holdings, remarked:
With the integration of Blue Commodities into the OB and OTCGH ecosystem, the combined entity will offer a full spectrum of services to clients, further solidifying its leadership in global commodities markets.
Oil Brokerage is a leading interdealer broker in the global energy markets, specializing in the broking of physical and financial commodities. The company is part of OTC Global Holdings, the largest independent interdealer commodities brokerage in the world.
Blue Commodities is a specialist physical commodities broker with a focus on middle distillates and fuel markets, operating across Northwest Europe , the Mediterranean, and West Africa .
OTCGH is the world's largest independent institutional broker of commodities, covering financial and physical instruments from offices in Chicago , Dubai , Houston , London , Louisville , New Jersey , New York , and Singapore . OTCGH has been awarded 5x "Broker of the Year" by Energy Risk. With a portfolio of nearly 20 companies, OTCGH is a liquidity provider for CBOT, ICE, NYMEX, and NODAL. The company serves more than 450 institutional clients, including over 70 members of the Global Fortune 500, and transacts in hundreds of different commodity delivery points in Asia , Europe and the Americas.
Visit otcgh.com to learn more or watch a short video here: https://vimeo.com/718433168
Video - https://mma.prnewswire.com/media/2525877/otc_global_holdings_corporate_video.mp4
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