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Difficult Deals in Difficult Places

In: The Rivers of Money

Author

Listed:
  • Adi Imsirovic

    (Surrey Clean Energy)

  • Colin Bryce

    (Energex Partners)

Abstract

This chapter explores the intricate world of oil trading during the transformative period of the 1970s. It contrasts the traditional operations of the Seven Sisters, major oil companies like BP and Shell, with the emerging independent traders who revolutionised the market. The Seven Sisters, focussed on supply and distribution without engaging in trading, faced challenges as the oil market evolved. BP and Shell adapted by creating trading departments, while American companies like Texaco and Exxon maintained their conservative approaches. The chapter highlights key figures and companies that shaped the oil trading landscape, including Marc Rich and Philipp Brothers. Rich’s departure from Philipp Brothers to form Marc Rich + Co. marked a significant shift, introducing aggressive trading strategies and expanding into controversial markets. The narrative also explores the role of brokers like Erwin Spuller and Thomas Galdy, who facilitated deals in a pre-digital era where information was power. The emergence of independent traders, their dealings in difficult regions, and their ability to navigate complex geopolitical landscapes are central themes. The chapter underscores the transition from vertically integrated operations to dynamic trading practices, setting the stage for the modern oil trading industry.

Suggested Citation

  • Adi Imsirovic & Colin Bryce, 2025. "Difficult Deals in Difficult Places," Springer Books, in: The Rivers of Money, chapter 0, pages 39-51, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-91806-3_3
    DOI: 10.1007/978-3-031-91806-3_3
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