Advertisement
UK markets close in 2 hours 4 minutes

  • FTSE 100

    8,056.80
    +16.42 (+0.20%)
     

  • FTSE 250

    19,632.61
    -86.76 (-0.44%)
     

  • AIM

    753.70
    -0.99 (-0.13%)
     

  • GBP/EUR

    1.1665
    +0.0020 (+0.17%)
     

  • GBP/USD

    1.2472
    +0.0010 (+0.08%)
     

  • Bitcoin GBP

    50,535.04
    -2,440.96 (-4.61%)
     

  • CMC Crypto 200

    1,345.24
    -37.33 (-2.70%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CRUDE OIL

    82.29
    -0.52 (-0.63%)
     

  • GOLD FUTURES

    2,327.90
    -10.50 (-0.45%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • HANG SENG

    17,284.54
    +83.27 (+0.48%)
     

  • DAX

    17,887.10
    -201.60 (-1.11%)
     

  • CAC 40

    7,977.44
    -114.42 (-1.41%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

Noble to supply Klesch German refinery, replacing Barclays

Reuters - UK Focus

LONDON, May 6 (Reuters) - Noble Group said on Wednesday it will start supplying crude oil to Klesch Group's Heide refinery in Germany, replacing Barclays (LSE: BARC.L - news) as the bank continues to withdraw from commodities trading.

Klesch awarded the supply contract for its 93,000 barrels per day (bpd) refinery to Barclays in late 2013 in a deal worth hundreds of millions of dollars a month.

Barclays, along with a handful of major banks, last year pulled out of most of its physical commodities business due to falling profits and increasing regulatory constraints.

"On May 5, 2015, Klesch Petroleum entered into an agreement with Noble Group whereby Noble will be the supplier of crude oil to Heide Refinery, Germany," Noble said on Wednesday.

"Noble takes over the role from Barclays, who previously supplied the refinery."

(Reporting by Ron Bousso; Editing by Keith Weir)