- A partnership founded by Simon Greenshields, previously the global co-head of commodities at Morgan Stanley, has bought Phibro from Occidental Petroleum (OXY +2%), Financial Times reports.
- Energy Arbitrage Partners, started by Greenshields, acquired Phibro's name, intellectual property, information technology, customer base and historical data, according to the report.
- OXY wound down Phibro, once a powerhouse in global oil markets, in late 2014 as it laid off employees and pursued a sale of some overseas operations.