TotalEnergies considers foray into copper trading, FT reports
Adds details, background in paragraphs 2-6
Oct 6 (Reuters) -France's TotalEnergies TTEF.PA is considering a move into trading copper, expanding its oil trading operations into metals to capitalise on the global energy transition, the Financial Times reported on Sunday.
The oil major has been "studying the case" for trading copper, Rahim Azouni, senior vice president of crude, fuel and derivatives trading, told a closed-door conference in London on Wednesday, the FT said.
Azouni said the company has not decided whether to make move, the newspaper said, citing people who had heard his remarks.
TotalEnergies did not immediately respond to Reuters request for comment.
The company would be following Vitol, the world's top energy trader, which this year diversified into metals trading.
The energy transition, which includes electric vehicles and renewable energy technologies, will need large volumes of metals including aluminium, copper, nickel cobalt - providing lucrative opportunities for traders.
Reporting by Shivani Tanna in Bengaluru; Editing by William Mallard
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