 It is one of the world's five largest independent energy traders and asset operators and is based in Geneva, Switzerland, with 37 additional offices worldwide.The group operates in 50 countries.Mercuria was started in 2004 by Marco Dunand and Daniel Jaeggi, then executives at Phibro, the commodities trader sold by Citigroup to Occidental Petroleum in 2009.The company focused mostly on oil trading until 2007.