HSBC looking to expand into gas and coal
The Energy Solutions Group at HSBC, formed through an alliance with Totsa, the trading arm of French oil giant Total, is likely to branch out from oil, according to its head Chris McHugh in London.
"We will be exploring opportunities in gas and coal, and then we'll consider what opportunities are suitable for us in power and emissions, but the initial focus is we get up and running on oil and refined products", he says.
The alliance with Totsa was sealed in July last year, and allows HSBC to
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