Italian oil refiner Saras has recently opened a new trading business in Geneva dedicated to the trading of crude oil and refined oil products, as well as to the procurement and supply of crude oil and other feedstock to the group’s refinery. “Such positioning in one of the main international trading hubs for oil commodities shall enhance the access to market information, which is decisive in order to capture new commercial opportunities”, the company said in a statement. The new Geneva base will also allow Saras to boost ties with its Russian investor Rosneft.
Founded by Angelo Moratti in 1962, the Saras Group is a leading European crude oil refiner also active in the energy sector. It operates one of the largest high complexity refineries in Italy, which represents about 15% of the country’s total refining capacity. The Geneva office will initially employ 12 people, and is expected to create 4-5 additional jobs in the coming months according to Swiss financial daily L'Agefi.