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Shell Asia fuel oil head quits, 2nd in a year – sources

By Yaw Yan Chong

SINGAPORE | Mon Mar 26, 2012 9:48am BST

(Reuters) – The team leader of oil major Royal Dutch Shell’s Asia fuel oil trading desk has left the company to join European trader Vitol, the second team leader to do so in a year, industry sources said on Friday.

Dominique Laborde resigned from his position last week, and is currently serving three months of gardening leave, an industry practice where traders are paid to stay away from the market for a certain period of time for confidentiality reasons. He is expected to start in Vitol’s U.S. office around the middle of the year, they added.

Last year, his predecessor as the oil major’s Asia fuel oil team leader, Jurgen van Herk, left to join Vitol’s Singapore office, where he has been since.

When contacted, a Shell spokesman said: “We do not comment on staff movements.” Laborde also declined comment when asked.

“There are other changes within the fuel oil team as well, with two newcomers and another trader being posted elsewhere,” an industry source said.

Two traders joined the team in the past month — Ranggau Muda, who returned to the Asia fuel oil desk from a three-year stint in London, and fuel oil newcomer Austral Chang, while Asia’s Jeremy Loy, who has been with the team for over three years, has been posted to Rotterdam.

Guido Sjibers, who has been in the Singapore office for nearly two years, is team leader in an acting capacity, the sources said.

Shell is one of the top five players in Asia’s fuel oil market, the world’s largest in terms of demand.

(Editing by Michael Urquhart)

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