July 7, 2020 / 7:32 AM / a month ago

MOVES-Freepoint Commodities hires crude traders from Litasco, Sonangol

SINGAPORE, July 6 (Reuters) - Freepoint Commodities Singapore Pte Ltd has hired two crude oil traders as it seeks to expand physical trading activities in the region, four trade sources said on Tuesday.

The traders are: Russell Koh, a senior crude trader at Litasco SA, and Leslie Yeo from Angola’s state company Sonangol Asia Ltd in Singapore, they said.

Koh is expected to join Freepoint in September, the sources said, while it was not immediately clear when Yeo would start.

Freepoint declined to comment. Litasco and Sonangol did not immediately respond to requests for comment.

Freepoint, headquartered in Stamford, Connecticut, first expanded in Asia in 2017, mainly in metals, oil and agricultural markets to meet demand in China.

The company has sold U.S. crude to Asia before and it was one of 19 companies short listed by Guyana’s government to market its share of crude produced in the country.

Reporting by Florence Tan, editing by Louise Heavens

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