Glencore admits deal to buy South African strategic crude oil reserves was invalid; Petrobras to raise Rio's LNG import capacity by 50%; SWIFT unveils plans to expand beyond financial messaging

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

 

• The Strategic Fuel Fund has reached an in-principle agreement with diversified miner Glencore to reverse the 2015 sale of South Africa's strategic crude oil reserves;

• Brazil's Petrobras has successfully concluded tests that will allow for a 50% capacity expansion at its Rio de Janeiro liquefied natural gas import terminal to 30 million cubic meters per day

• SWIFT has unveiled plans to expand over the next two years beyond financial messaging to offer member banks comprehensive transaction management services

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