In the Netherlands, Nidera says it has been hit by a rogue trader in its biofuels business that have led to significant but undisclosed financial losses. The trader was fired at the end of the first quarter. The losses were first discovered when biofuels prices fell earlier this year following huge drops in oil prices. As a result, the company is liquidating some of its biofuels stocks in order to cover the hole in the company’s books.
Category: Fuels
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