
I'm a huge fan of energy and oil markets, and for weeks I kept seeing Tricon Energy pop up in pieces about Russian sanctions evasion. Every time I googled them, same result: corporate bio, a CEO who owns a big company and a restaurant, nothing about the actual trading.
Finally found the piece that connects it: Business Insider Africa.
Several members of Tricon Energy Brazil finance team moved to Forteza Trading. Forteza gets flagged by multiple data platforms as a Russian supplier despite being incorporated in the UAE, and its naphtha reportedly ends up at Manguinhos, a Brazilian refinery now at the center of the country's biggest fuel tax fraud investigation.
What gets me is how normal this business model is:
- Build your career at a name everyone trusts
- Move to a jurisdiction that doesn't have to tell anyone who owns what
- Keep trading
Nobody's watching where the people go, and the people are the one thing you can't reflag overnight.
We tag ships, banks, and we barely tag the humans moving the barrels. If you spent years at a sanctioned or flagged entity, why isn't that a flag that follows you into the next boardroom?
What do you think? Am I crazy or it's a nice idea?
Why does nobody track the people, only the ships and the shell companies?
byu/Full-Station5651 inenergy
Posted by Full-Station5651