Macquarie Group Ltd
(ASX:MQG) has announced plans to expand into Canada through launching a oil marketing and trading business based in Calgary.
Managing director and global energy head of Macquarie’s energy markets division, Nicholas O'Kane, says the business plans to deliver commercial services to North American oil producers and refiners.
The new business will operate under Macquarie’s energy markets division, adding to similar projects in London, Houston, Singapore and Sydney.
Macquarie advises that it has been involved in the physical energy markets since establishing an energy trading business in 2003 and the group now has a global physical trading platform across a range of key commodities.
In six months to 30 September 2010, Macquarie Group posted a net profit of $411 million.
