Mercuria, an exclusive energy trader, reports a record profit for the unpredictable year 2020, according to Reuters. Mercuria Energy Group had a banner year in 2020, boosted by the COVID-19 pandemic’s severe volatility in oil markets, as well as very strong profits across its portfolio, particularly in gas and electricity. Revenues dropped to around $85 billion from $116 billion the previous year, in line with commodity prices. “This is what I will keep from 2020, a year of tremendous volatility and a very strong live test of our risk management basics… we’ve been testing all of our extreme scenarios and have been successful at that,” said Guillaume Vermersch, CFO.
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