Hetco, the trading unit of New
York-based energy firm Hess Corp. (HES), opened a new office in Geneva
“Hetco has established a small office in Geneva because
the city has become one of the leading centers for international
oil trading,” Jon Pepper, a spokesman, said by e-mail.
Geneva accounts for about a third of the world’s crude and
oil products trading, according to the Swiss city’s commodity
trading and shipping association. Vitol Group and Trafigura
Beheer NV, two of the five biggest independent oil traders,
already have offices in Geneva.
Hetco is working from an office on Rue du Rhone, the same
street as the headquarters of Mercuria Energy, another of the
five largest independent energy traders, Switzerland’s register
of companies shows. Pepper declined to provide further details
about the office.
To contact the reporter on this story:
Giles Broom in Geneva at
To contact the editor responsible for this story:
Frank Connelly at