Enviado: 29/11/2011 18:16
Galp plans to move oil trading to Geneva-sources
Tue Nov 29, 2011 5:03pm GMT
Print | Single Page[-] Text [+] LONDON Nov 29 (Reuters) - Portuguese oil company Galp Energia plans to move its oil traders from Lisbon to Geneva in the next few months, oil industry sources told Reuters.
"Initially it will be the oil business and then the rest later," said a trading source familiar with the company's activities. "This is on the back of having success with production in Brazil," he added.
Low corporate taxes has made Geneva a magnet for oil trading companies such as Vitol, Trafigura and Total and around a third of the world's oil is now traded there. (Reporting by Emma Farge; editing by Jason Neely)
http://af.reuters.com/article/commoditi ... UX20111129