Tag Archives: dimitri

STAR ???? Hello Star

Noble’s Star Gasoline Trader Sinenko Said to Join Gunvor

Gunvor Group Ltd. has wooed Noble Group Ltd.’s star gasoline trader to join its expanding U.S. operations as an exodus from the struggling Asian trading house continues amid asset sales and a debt restructuring.

Dmitri Sinenko, one of Noble’s top performing oil traders, has agreed to join Gunvor’s U.S. operations… -Bloomberg

 

 

There is a few myths and misconceptions in the presser starting by STAR ??? Hello star.

On the cash-flows statement basis the U.S pipeline trade is absolutely what has killed any ray of hope for Noble of breakeven and paying back the borrowing base. https://noblegroupresearch.wordpress.com/?s=oil+liquids

 

The ‘Co-Stars’

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In our book, the co-stars Dmitri  https://noblegroupresearch.wordpress.com/tag/dmitri/ and Jeffrey “Chief Relaxation Officer ” Frase, simply put, are synonyms of two high overheads.

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Noble Americas Oil Liquids was Noble’s last hope and they have bet everything on the same horse.

Noble Group Business

For the records they were given a blank card and what they did with it was roulette “double the stakes or quit” losing million dollars in negative cash flows per day depending on how you read how Noble torture its operating income from supply chain and  non-cash mark-to-market unrealised observable positions or its (bogusphysical turnover.

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If you want to know the real story of Noble Group, it is pretty simple:  in trading you can’t be just a second or a third, it cannot and won’t work.

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“Even with massive refineries shutdown of a historical proportion in the wake of Harvey flooding, Dmitri has not break-even, was losing Noble Americas Corp. half a million a day on his pipelines trades.”

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A 3rd or a 2nd won’t make it. It’s not enough. You need to get everything right and 10/10, or the market will grind you down to the ground.

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the Noble Files 高贵组文件 研究

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The War on Women

You would think that the most educated people are the most “Noble”.

These 56 pages are a Gold mine of abuse.

Wendy Ramos is head of chartering in the well-known Stamford trading outfit.

She is referred as the oldest employee. The lawsuit states that Ramos was treated differently than at least five male counterparts in terms of pay, bonus and renumeration.

The hostile work environment includes daily vulgar and disgusting comments from male employees about vaginas, sex, male genitalia, and verbally abusive language using the word ‘f—‘ explicitly. constant abuse.”

A Day on the trade floor.

During 2012-2016, at the office in Stamford, Plaintiff’s seat was next to the gasoline traders which includes video conference cameras connecting with London and Houston offices.

The commentary back and forth on the Stamford desk for everybody within
earshot to hear, frequently became vulgar and disgusting. This created a hostile work environment.

It was a constant back and forth across the Stamford desk of sexual innuendo and inappropriate commentary.

For example, on October 1, 2015, there was a discussion around the smell of fish and a women’s body that was extensive.

This happened on the trading floor in an open space. Sushant [Sushant Koduru] left sushi on EL’s (a female employee) desk. EL said to Sushant and the other men that she didn’t want the sushi.

In response, Sudeep  says to Dmitri [head gasoline trader], “EL is offering out her sushi to everyone,” with intonation of a sexual nature regarding her vagina.

EL encourages the behavior an repliesand laughs, “Who wants my fish? Everyone wants my fish!”

The men around me were giggling among themselves.

Then EL comments, “It’s very fresh!” To which Sushant smiled and replied, “I’m sure! Koto Approved.” 🙂

HR Policy “D cups”

On or about, 2015, Plaintiff was told that Jeff Frase (CEO) and

Mike Kerrigan-Human Resources had a meeting whereby they were discussing restructuring (firing) staff.

Plaintiff was told that Jeff said that they had to keep Blair Shrewsbury, a young intern, because she was the only “D” cups on the floor, whereby Jeff and many others laughed about it, including the HR executive.

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Incompetence & Arrogance

The Lawsuit alleged that James McNichol  and his team lost Noble well over 85 million dollars in the year he left Noble’s employment.

James McNichol came to Noble from Trafigura where he had been accused of being the trader behind a deal that unlawfully disposed of oil waste slops in Nigeria that ultimately caused serious illness of multiple people who came in contact with the disposed slops.

Plaintiff’s first experience with James was during a “Team Building” meeting held in

Barcelona Spain during October 9 11, 2009. Plaintiff was asked to attend and give apresentation relating to the Chartering desk. It was clear from the start of meeting that James had his own agenda for the Oil Group.

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Managing the company money.

The entire trading team at the time was in Barcelona where on the first night Plaintiff went to dinner with the group and then to an early night in.

The next day during the Team Building presentations several men were missing. As they showed up in the afternoon hours of the day, the rumor was that the men were not present because they were hung over. As the day progressed, it was said through conversations that these men were out all night at a strip club. After the event, James submitted the “expense” to Ted for reimbursement.

If you run into trouble, just tell a lie to the customer.

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On or about, 2009, on information and belief, James McNichol told the London operations manager, Zelda Harina, that she needed to convince the inspectors to lie about quality outcomes on cargoes.

James wanted her to do this to make more money. She refused to urge the inspectors to lie and she ultimately quit because she would not do what he asked.

During this time at Noble, on information and belief, James proceeded to make questionable trading decisions that were losing the Oil desk millions of dollars.

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 Book now… think later

For example, he took on overpriced storage, taking on multiple time charterer ships for Gas and Diesel without consent from Ted.

The spreadsheet below that shows that Noble at that time had taken approximately 670,000 MT for floating storage versus Vitol (the largest trader in theworld) was 2nd with 300,000 MT than the total trading market.

mogas on water

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Plaintiff sent this spreadsheet to Ted and asked him to do something about James’ injurious actions.

Not only was he hostile to her, now his behaviors were damaging to the company’s bottom line.

However, nothing was done.

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At the end, the unsold cargoes, and empty storage finally caught up to the oil traders, and ultimately James and his team lost Noble well over 85 million dollars in the year he left Noble’s employment.

Can you understand why Noble Group is in a liquidating death spiral ?

Can you understand better Noble Group will soon cease to exist, evidently somebody messed-up big time.

The Noble Files 高贵组文件 研究