Koch Industries Quits Oil Trade ...Middle East

Koch Industries will exit the oil and fuels trading business to focus on “other, more customer-oriented trading activities,” a spokesperson for Koch Minerals & Trading, a division of the industrial conglomerate, said, as quoted by Reuters. Bloomberg reported that the company was going to expand in metals, maritime transport, and natural gas related products, citing a letter by company executives. Last November, Reuters reported that Koch was laying off people at the oil and fuels trading division. The layoffs were being made in…

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