History
As the company expanded, it has hired traders and investment professionals from Morgan Stanley, Goldman Sachs, Louis Dreyfus Group[17] and Electrabel in London.[18] In November 2010, Mercuria Energy bought MGM International Group from Morgan Stanley Capital Group Inc. and MGM International LLC.
In 2014, Mercuria bought part of JPMorgan's physical commodities trading business for a reported US$3.5 billion.[19][20] Magid Shenouda, the former co-head of commodities trading at Goldman Sachs Group Inc, joined Mercuria as a shareholder, global head of trading and deputy CEO.[21]
In January 2016, Mercuria announced that ChemChina had bought a 12% stake in the company.[22]
In 2018, Mercuria agreed to acquire 30% of Aegean Marine Petroleum.[23] After Aegean Marine was reorganized,[24][25] in 2019, Mercuria acquired bankrupt Aegean Marine Petroleum Network Inc and restructured the company to operate as Minerva Bunkering, a physical supplier of marine fuels and a fully owned subsidiary of Mercuria Energy Group Limited.[26][27][28][29]
In 2020, Mercuria earned $786 million with revenues in line with commodity prices to about $85 billion. The company's gross profit on sales for the year was $1.86 billion.[30][31] In 2022, the company experienced record profits due to volatility in the aftermath of Russia's invasion of Ukraine.[32]
In 2021, Mercuria bought the clean energy specialist Beyond6 from HC2Holdings for $169 million.[33] In November 2022, it was announced Beyond6 has been acquired by the Chevron Corporation subsidiary, Chevron USA Inc.[34] In April 2024, Bloomberg reported that Mercuria Energy Group was preparing to start trading in Japan's physical power market.[35] In June 2024, the company was reportedly seeking to expand in the metals sector.[36] In early 2026, Mercuria bid to buy a refinery and gas stations in Argentina from Brazilian sugar-and-ethanol producer Raizen.[37]
