did pierre deal in physical movement of oil at vitol
Pierre Andurand started his career on the commodities desk at GS in sg trading oil derivatives before being poached by Vitol after a brief period at BAML. Since the big banks differ from trading houses in that they trade paper vs physical, was Pierre's only play at Vitol to make speculative bets using hedging derivatives to make money as opposed the operations/scheduling/delivery that comes to mind when we think of phys oil trading?
Correct was a fundamental high level s/d guy never dealt with phys arb in his career. Historically been a long vol guy.
I thought it was interesting that he made his returns ytd in gas/power/carbon, not oil
Not a huge shock, look up his interview on realvision. Pierre made his career solving for the long-term supply curve vs shale half cycle economics causing short-term vol he hated that shit. His view on the power/carbon was that it is longterm capex issue which is true, as divestment in LNG/power infrastructure in europe has happened for last 2-3 years.
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