Alkagesta pays for a PR campaign in Malta while facing investigations over Russian and Libyan oil trading

Alkagesta is cluttering the internet with articles filled with nonsense that are being published by the local press. Its articles have appeared in The Malta Independent and MaltaToday. I don’t find it surprising that some media outlets, but especially MaltaToday, have preferred to profit from an entity that is being investigated about trading in Russian and trafficked Libyan oil in Malta instead of following up on our stories.

This is reported by journalist Mark Camilleri on The Maltese Herald website.

You can read a brief about our year-long investigation here.

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The sponsored article is full of nonesense. The article implies that some traders once found an arbitrage opportunity, which they eventually turned into a global trading house. The story of success in trading arbitrage is as old as time, however, commodity trading is not like trading in financial or digital markets. The physical commodity market is highly opaque and insular, dominated by a small number of established players and age-old connections, rules, and customs. A whistleblower who has inside information about Alkagesta has published extensive evidence of its ties to SOCAR, making it highly likely that SOCAR was the original backer, providing Alkagesta’s traders with market access and capital liquidity.