August 23, 2019 / 12:23 PM / a month ago

MOVES-Glencore hires former PetroIneos executive for refining team

LONDON, Aug 22 (Reuters) - Global miner and trader Glencore has hired former PetroIneos executive Mehdi Rghioui as a refining optimisation manager, according to his LinkedIn account and a source familiar with the matter.

Rghioui worked for PetroIneos for more than seven years, most recently as head of supply optimisation, before joining Glencore in August.

The Swiss-based commodities firm bought a majority stake in Chevron’s South African subsidiary in April this year, the first refining asset it has owned in years.

The unit runs a 100,000-barrel-per-day oil refinery in Cape Town, a lubricants plant in Durban and 820 petrol stations and other oil storage facilities, as well as more than 200 convenience stores in South Africa and Botswana.

Glencore bought a 75% stake in the firm through existing minority shareholder Off the Shelf Investments Fifty Six (OTS), plus full ownership of Chevron’s Botswana outfit. (Reporting by Bozorgmehr Sharafedin; Additional reporting by Julia Payne; Editing by Jan Harvey)

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