marco dunand mercuria net worth

0. Journalists in 50+ countries follow the constant flow of money made and lost in oil & gas while Back in Hong Kong, he traded commodities with China in the 1970s and was the first to sell Chinas Daqing crude oil to the United States. personalising content and ads, providing social media features and to WHO: Vitol, founded 1966 in Rotterdam by Henk Vietor and Jacques Detiger, WHERE: Geneva and Rotterdam WHAT: Oil, gas, power, coal, industrial metals, sugar, TURNOVER: $195 billion (2010) CEO: Ian Taylor STAFF: 2,700. BEIJING, Sept 29 (Reuters) - The little known Asia head of Mercuria will be key in tying the Swiss commodity trader's $3.5 billion acquisition of JP Morgan Chase and Co's physical commodity desk. 2. In a settlement, Trafigura agreed to pay a $5 million fine, but wasnt charged with smuggling and denied wrongdoing. Lindustrie ptrolire opre avec des marges relativement troites, avec des cots structurels trs levs, et il y a pas mal de socits qui souffrent. But Mabanaft has also gradually opened offices in Singapore and the United States and, in the summer of 2010, a representative office in India. After a newspaper interview he wrote an open letter in 2008 headlined Gunvor, Putin and me: the truth about a Russian oil trader. Pinterest. The top five piled up $629 billion in revenues last year, just. lakeland fishing spots ffxiv isee 2020 pertinenze abitazione principale marco dunand mercuria net worth. The company now operates in 60 countries. In 2020, Mercuria had its best year ever, earning $786 million with revenues in line with commodity prices to about $85 billion. Il va falloir que les raffineries sadaptent, que les armateurs choisissent sils veulent acheter des filtres particules ou des carburants moins polluants. Marco Dunand, patron de Mercuria: Notre approche est assez intellectuelle Matires premires Le trader genevois Mercuria veut s'emparer du gant grec en faillite Aegean Marine Petroleum. But by the end of April, a U.S. Treasury directive authorized the Vitol transactions. In March 2014, the firm purchased JP Morgan's physical commodities unit for $3.5 billion. Nous avons simplement envie de jouer un rle pour rpondre aux besoins que cre cette transition. or But most analysts think it needs fresh capital to grow, or to buy out minority family shareholders who will have the option to sell their stakes in 2012. The firm was founded in 2004 by two former Wall Street oil traders, Marco Dunand and Daniel Jaeggi. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. It has coal mines in Kalimantan in Indonesia, oilfields in Argentina and Canada plus oil trading in Singapore, Chicago, Houston and across Europe. Their move to run their own empire came in 2004 when they founded Mercuria, raising capital from two Polish businessmen, Grzegorz Jankielewicz and Slawomir Smolokowski. The godfather of oil trading, Marc Rich, taught one of his most talented apprentices Claude Dauphin almost every trick in the business. On a plus de 100traders, on leur donne des paramtres de risque mais lintrieur de ces paramtres ils ont un degr de libert. Hin Leong made its name in the hard-fought Asia fuel oil and distillates market over 20 years ago, and is arguably the largest independent distillates trader in Asia, regularly mounting successful trading plays in the Singapore market. In 2006 a tanker it chartered dumped toxic waste in Ivory Coast, allegedly making thousands ill and killing up to 16. Il faut une transition. Le trader genevois Mercuria veut semparer du gant grec en faillite Aegean Marine Petroleum. Twitter. Verghese still plans to cash in. In 1972 Cargill came under attack as it secretly sold millions of tonnes of wheat to Russia, using a U.S. export subsidy program to boot -- and boosting food inflation. 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Tornqvist, a former BP trader and keen yachtsman, says he doesnt share the vision of Mark Rich, the father of contemporary trading, that political links are the most prized asset in trading. En ce moment, a se passe au tribunal, cest trs complexe, avec des avocats et des contrats qui font des centaines de pages. Around two decades ago, Kuok Khoon Hong decided to leave the business empire of his billionaire uncle Robert Kuok to set up an edible oil business with a big bet: China. That gives its traders the advantage of timely market intelligence. In two decades of oil trading, Dunand and Jaeggi built fearsome reputations for seeing profit margins where others could only see potential losses. The top five piled up $629 billion in revenues last year, just below the global top five financial companies and more than the combined sales of leading players in tech or telecoms. Jankielewicz and Smolokowskis company, J+S Group, traded Russian crude oil and was a leading supplier of oil to PKN Orlen, Polands top oil refiner. Mme au cas o on reprendrait la socit, on na pas encore dcid quel nom elle aurait. Le monde doit baisser dintensit carbone. ADM was fined $100 million by the U.S. government for antitrust violations. Ce sont des investissements trs importants, que je prfre ne pas chiffrer. . For Gunvors rivals, too, favoritism is also an overly simple explanation of the companys success. On peut dcider relativement facilement parce que les gens qui prparent les projets linterne ont un degr dautonomie assez grand. Tout peut se dcider en deux semaines, dautres fois en un an, tout dpend de la complexit, du risque, de la volont de lautre partie. Trading houses have huge volumes of proprietary trading. Since co-founding Mercuria with partner Marco Dunand in 2004, the company has ballooned into one of the top four commodity trading houses in the world, turning over more than $100 billion in. These days, Olam has upstream operations in everything from a coffee plantation in Laos to a rice business in Thailand, from almonds in Australia to cashews in Africa. Mercuria reported net income of $286m for 2015, up from $273m for 2014, said people familiar with the matter. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. His partners seized control of the firm in 1994, renaming it Glencore. Mabanaft is aiming to further diversify its product portfolio by pursuing a controlled geographic growth strategy, is all communications manager Maren Mertens is able to offer on the subject. We dont see the need to raise money from the market, Dunand said. The companys largest shareholder is now former coal trader and Chief Executive Ivan Glasenberg, an intense and charismatic South African who holds a stake of just under 16 percent, worth around 4.5 billion pounds at current prices. Marco Dunand, Mercuria Energy Group Holding SA: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Markets Americas Bloomberg Markets Americas. They have some superstars but mostly a lot of team players -- what I would describe as well grounded, fundamental traders.. U.S. regulations are now pending to limit banks proprietary trading -- speculating with their own cash. China is becoming more like a Glencore, said Hinde. That would put them well below the 16 percent stake Glencore CEO Ivan Glasenberg owns in his firm. A rare news release announced that Jan-Willem van der Velden, who started as an international trader at the company in 1997, would take over as CEO from January this year. Dunand is the co-founder and CEO of Mercuria Group, one of the world's largest independent energy and commodity trading companies. 1. [8], Mercuria moves about 1.5million barrels per day (240,000m3/d), of crude and oil products and has upstream and downstream assets ranging from oil reserves in Argentina, Canada and the United States, to oil and products terminals in Europe and China, as well as substantial investment in the bio fuels plants in Germany and the Netherlands. It helps that the companys CEO Alberto Weisser is a Brazilian, and that Bunge has more than 100 years experience in South America. Mais un pays comme lAfrique du Sud ne peut pas passer au 100% renouvelable aujourdhui. WHO: Hin Leong, founded 1963 supplying diesel to fishing boats. That strategy has often succeeded, though last month it found itself at the center of a dispute in the newly minted nation of South Sudan. After dropping out of school he began his career at 15 in a metals scrap yard in the UK. [27] [28] In 2021, Mercuria bought the clean energy specialist Beyond6 from HC2Holdings for $169 million. Decatur, Illinois-based ADM is one of the worlds biggest commodities traders. After graduating, commenced his career in th.. HomeRegisterSite MapContact Us Global Geology & Earth Science Experts Navbar Abouts Us Open Access Journals Dans cette affaire, certains vous reprochent de dployer une stratgie agressive, dite loan to own, savoir prter des concurrents en dtresse pour semparer deux. One of the great things that Cargill did was develop the salt business to transport back up, eliminate the snow during the wintertime, and fill barges back up with back hauls, the wheat trader said. Critics, including the Russian opposition, put it simply -- Russias paramount leader helped businessman Gennady Timchenko create the Gunvor oil trading empire, which saw a spectacular rise in the past decade when Putin was president and then prime minister. That comment didnt help calm rumors and then Timchenko spoke too. In addition to proprietary trading curbs, the U.S. regulator voted on October 19 to impose position limits in oil and metals markets. Tea Party movement. [17][18] Magid Shenouda,the former co-head of commodities trading at Goldman Sachs Group Inc, joined Mercuria as a shareholder, global head of trading and deputy CEO. Having said that, we have also been approached by potential investors -- sovereign funds and others -- who wish to make a private-equity type of investment in our company.. Wilmars strategy is to have its fingers in every part of the supply chain, from point of origin to destination. We have a system that monitors the supply and demand needs, because often times they are working independently. With around $100 billion in sales, Koch Industries is a heavyweight among U.S. oil trading firms, and one of the most secretive U.S. corporations. Inside the lake office, as it is known, sits the chairman of Cargill Inc., one of the largest privately held companies in the world. Of the six major metals warehousers only one, Dutch-based C.Steinweg, remains independent. Wall Street heavyweight JP Morgan is advising Noble on the planned listing. WHO: Gunvor, founded 1997 by Swedish oil trader Torbjorn Tornqvist and Russian/Finnish businessman Gennady Timchenko, TURNOVER: $80 billion 2011, company estimate ($65 billion 2010). Some analysts point to risk factors: Olams exposure to natural disasters, such as recent flooding in Australia, and social or political unrest such as that in Ivory Coast. (Bloomberg) In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the worlds fourth-largest commodity trader with revenue topping $100 billion last year. (Additional reporting by Jean-Francois Rosnoblet), WHO: Bunge, founded 1818 by Johann Peter Gottlieb Bunge in Amsterdam. 13 in the Fortune 500 list of publicly held companies, just behind Wall Street banking giant Citigroup. What matters is that the group and its name survive, she said. [16] The Miami, Florida-based MGM International Group is a developer of international projects to reduce greenhouse gas emissions. In April Noble appointed Li Rongrong, former chairman of the state-owned assets supervision and administration commission of China, as a non-executive director. In 2014, Mercuria bought part of JPMorgan's physical commodities trading business for a reported US$3.5 billion. Thats what Koch, Vitol and others did in 2009 when they parked 100 million barrels of oil in seaborne tankers. Je pense que, trs court terme, les prix peuvent rester relativement bas, mais quils vont remonter environ 70dollars dici 4-5 mois. Like Vitol, he says, Gunvor has no plans to follow Glencore into an IPO. The company's gross profit on sales for the year was $1.86 billion. Our Standards: The Thomson Reuters Trust Principles. Cargill and Louis Dreyfus are the large missing players in the commodity trading space.. It is also the largest producer of consumer pack edible oils with about 45 percent market share. Marco Dunand is Chief Executive Officer and co-founder of Mercuria Energy Group, one of the world's largest independent energy and commodities companies operating in more than 50 countries along the entire commodities value chain with a balanced combination of commodity flows and strategic assets. Mercuria Group Bio Marco Dunand is Chief Executive Officer of Mercuria Energy Group, one of the world's largest independent energy and commodities companies. Mercuria is a Geneva, Switzerland-based trading firm focused on energy products and dry bulk commodities. You may change or cancel your subscription or trial at any time online. Louis Dreyfus is a well-honed global operator, marketing agricultural commodities from wheat to orange juice. Mr Dunand said one way Mercuria could work with . Arcadia has faced controversy before. Glencore has long made its fortune by working on the fringes and in areas where few others dared. Je ne peux absolument pas m'exprimer sur ce point. Live from New York,. Sanctions targeted Gaddafi. Facebook. Koch moved quietly to lead a boom in U.S. offshore crude storage, buying millions of barrels at cheap spot prices, parking them in supertankers near its Gulf Coast pipelines, and simultaneously selling into futures markets. Vous aviez dj financ le trader en dtresse Noble, on vous voit investir en Afrique du Sud, en Argentine, en Tunisie Quelle est la logique de toutes ces transactions? Cest un processus assez collgial. Cest l, entre autres, que nous pouvons intervenir. We havent seen this pace of population growth in our living memory, Verghese told a conference in Singapore late last year. Yet it took Russias most influential politician almost a decade to publicly address one of the most serious allegations against him. Despite not being on the registry, Bunge continues to export grains and agricultural products as usual, but it cannot cash in on certain tax benefits and it faces hurdles transporting goods within Argentina, which analysts say could hurt the companys bottom line. Grce cette accumulation de savoir-faire, on est capables dintervenir tout au long de la chane, l o il faut, quand une opportunit se prsente. Dunand says he and Jaeggi have no intention of selling the company they have built so swiftly, or launching an initial public share offering (IPO). Asked to comment, Cargill said the company actively backs free trade to boost agriculture in all countries and is in dialogue with many important audiences, including governments Additionally, we dont believe export bans are the solution to either high grain prices or price volatility. ADM declined to comment and a spokesman for Bunge could not be reached. By Xeba73 @ 2014-06-02 03:16:42. Two examples: it makes biodegradable and recyclable plastics out of corn at its $1 billion complex at Blair, Nebraska, and is creating new low-calorie food ingredients for such multinationals as Kraft, Nestle and Coca Cola. The trading houses talent and deep pockets translate into incredible power. Founded 25 years ago by Briton Richard Elman, the Hong Kong-based, Singapore-listed Noble Group buys and sells everything from Brazilian sugar to Australian coal. Most commodity buyers in the world are price takers. What matters is results, and you can see that in the way they trade.. They point to very competitive pricing offered by Gunvor when it comes to Russian oil tenders. Cargill hopes to dominate new markets as well. Nigerias Petroleum Product Pricing Regulatory Agency (PPPRA) said that in one transaction the amount of fuel submitted for subsidies did not match the actual quantity delivered. They have the most talent, the deepest pockets, and the best risk management.. But make no mistake, if you perform well at Koch, you are richly rewarded in salary terms, the person added. [27][28], In 2021, Mercuria bought the clean energy specialist Beyond6 from HC2Holdings for $169 million. [29] In November 2022, it was announced Beyond6 has been acquired by the Chevron Corporation subsidiary, Chevron USA Inc.[30], Last edited on 18 November 2022, at 13:08, Review of International Political Economy, "China slowdown spells end of big payday for iron ore traders", "RPT-Oil traders diversify into food and metals in quest for profits", "Citi sells Phibro after government pressure", "Polskie obywatelstwo i fortuna zbita na ropie", "Oil and Gas, PetroLama Energy Canada Inc. Calgary, AB Home", "Prior notification of a concentration (Case COMP/M.6807 Mercuria Energy Asset Management/Sinomart KTS Development/Vesta Terminals): (Text with EEA relevance)", "Oil traders say banks are demanding green targets for loans", "Louis Dreyfus metal traders, investment managers will join Mercuria Energy", "Mercuria Energy Group Ltd buys MGM International from Morgan Stanley - CEOWORLD magazine", "J.P. Morgan Completes Sale of Some Commodities Operations to Mercuria", "JPMorgan sells physical commodities unit to Mercuria for $3.5 billion", "ChemChina Acquires 12% Stake in Swiss Commodity Trader Mercuria", "Restructured Aegean Marine Becomes Minerva Bunkering", "Energy trader Mercuria gets green light to buy Aegean Marine Petroleum", "Aegean Marine Petroleum Network Inc. Reorganizes as Minerva Bunkering", "Energy trader Mercuria posts record profit for volatile 2020", "Trader Buys $36 Million of Copper and Gets Painted Rocks Instead", "Mercuria Buys Clean Energy Specialist Beyond6", "Chevron to acquire full ownership of Beyond6 CNG Fuelling Network", "Mercuria Commodities Canada Corp. - Relationship Science", "Mercuria Grows its Global Metals Trading Business", https://en.wikipedia.org/w/index.php?title=Mercuria&oldid=1122604639, US$121 billion (2019) Trading houses were able to do this because international sanctions on Syria do not ban the sale of fuel into the country, but they did not have to fight off much competition for that business. Founded in 1818 in Amsterdam, the company is the worlds No.1 oilseed processor. A wealthier world needs more food. The company handles 3 percent of the worlds daily oil consumption. While its savvy traders were doing deals in eastern Libya, Vitol, along with rival Trafigura, kept refined product supplies flowing to the besieged government of Bashar al-Assad in Syria as his troops attacked civilians. By annual revenue Vitol is richer than Glencore but the numbers arent directly comparable -- Glencore owns more hard assets which, typically, are far more profitable than trade turnover. In some cases it makes up 60-80 percent of what they do, said Carl Holland, a former price risk manager at oil major Chevron Texaco, who now runs energy consultancy Trading Solutions LLC in Connecticut. university Investors say he might already have his sights set on Brazil, to strengthen his position in the global sugar market. See here for a complete list of exchanges and delays. In 2006, J+S was raided by the Polish authorities in connection with an investigation into oil trading in Poland. J+S denied any wrong-doing and suggested the investigation was politically motivated. Belgium-born Rich joined Philipp Brothers, subsequently Phibro, aged 20, leaving in 1974 with a fellow graduate of the Phibro mailroom, Pincus Pinky Green, to set up Marc Rich and Co AG in Switzerland. with 37 additional offices worldwide. Home Uncategorized marco dunand mercuria net worth. Koch declined to discuss its trading with Reuters. As usual, details are scant. Noble quit its global liquefied petroleum gas (LPG) operations in 2010, a year it was censured in Nigeria for discrepancies in gasoline shipping lists. The companys deal with Libyas rebels was a gamble. That comment, by Matt Damons character Marc Whitacre in the 2009 corporate scandal film The Informant, described how U.S. agricultural firm Archer Daniels Midland Co. turned grain into gold. [29] By - June 3, 2022. Les quipes travaillent ensemble depuis des annes, elles ont appris lADN de la bote tout en prenant des dcisions de manire autonome. Mercuria's Marco Dunand talked to S&P Global Platts about the challenges, implications, and opportunities that the coronavirus pandemic presents across all the key commodity classes in a time of unprecedented volatility in the global markets. They are part of the food chain, yet help shape it, and the personal rewards can be huge. Overnight on Wall Street is morning in Europe. Many small producers rely almost entirely on Koch to buy, sell and ship their crude. LONDON, Dec 1 (Reuters) - Mercuria, one of the world's top energy traders, has raised almost $1.1 billion through a loan facility and the sale of oil and gas assets, beefing up its balance sheet for future growth, its chief executive said on Thursday. Cest le dilemme de notre plante: comment fait-on cette transition vers un monde avec moins de carbone, sans laisser des gens privs daccs llectricit? It has grown into the worlds third-largest independent oil trader and second-largest industrial metals trader in less than 20 years, since it was set up in the early 1990s by Dauphin and fellow traders Eric de Turckheim and Graham Sharp. It was done a long time ago. Vitols wealth is spread across only 330 share-holding employees, fewer than Glencores 500. Comment slectionnez-vous vos projets? A fiercely libertarian ideology and ultra-competitive engineering prowess live on at Koch Industries spartan headquarters in Wichita, Kansas, a former Koch executive told Reuters. [15] In November 2010, Mercuria Energy bought MGM International Group from Morgan Stanley Capital Group Inc. and MGM International LLC. [23][24][25][26], In 2020, Mercuria had its best year ever, earning $786 million with revenues in line with commodity prices to about $85 billion. Its website reveals little more than that it is the trading arm of privately owned oil company Marquard & Bahls. The jury is still out among rival traders on whether he made or lost a fortune that summer, a debate Lim is unlikely to settle publicly. We know how to close the gap (with Vitol and Glencore) and we are actively catching up, Tornqvist said. In early 2007, when world grain prices were surging toward all-time highs, it faced a problem in Ukraine. The thinking is, why open the books to the world? said a former lobbyist for Koch who requested anonymity. WHO: Louis Dreyfus, founded 1851 by Leopold Louis-Dreyfus, WHERE: Paris WHAT: Cotton, rice, grains, orange juice. Why? Trading houses saw the opportunity to leverage metals warehousing after the 2008 financial crisis. WHO: Cargill, founded 1865 by William Wallace Cargill at the end of the U.S. Civil War, WHERE: Minneapolis, Minnesota WHAT: Grains, oilseeds, salt, fertilizers, metals, energy, TURNOVER: $108 billion (2010) CEO: Greg Page STAFF: 130,000. But they have seen interest from potential investors, and have considered a tie-up with a sovereign wealth fund. Along the way it has moved headquarters to Belgium, Argentina, Brazil and then the United States. Hin Leong is joining hands with several Chinese firms to build the proposed Singapore refinery, even as it seeks to build a larger oil storage facility in the South Chinese province of Fujian. The report also details sales by a foreign Koch subsidiary of petrochemical equipment to Iran, which is subject to U.S. sanctions, and a history of criminal or civil penalties for oil spills, a deadly 1996 U.S. pipeline blast, and under-reporting of emissions of benzene, a carcinogen, from a Texas refinery in 1995. A Trafigura-chartered tanker was intercepted in the Caribbean in 2001 on suspicion of carrying illegal volumes of Iraqi crude. A fleet of tankers and Asias largest commercial storage facility are among the companys assets. Il y a une transition qui est en train de se produire sur le march de lnergie en gnral. While pursuing Robert Louis-Dreyfus passion for the club, which drained millions from his fortune, she has placed strict conditions on new investment. In public, for a company that turned over almost $200 billion last year trading 5.5 million barrels a day, its profile is nigh on subterranean. In his only media interview, with Reuters in 2006, Lim credited his success to investment in his tanker armada -- the secret weapon that helped him set up stealthy and profitable deals in the 1990s -- and his philosophy of perseverance. On sait trs bien qu terme il faudra baisser la consommation de charbon. It buys and sells multiple crops, mills and grinds and processes them into scores of products, both edible and not, and ships them to markets around the world. 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Godfather of oil trading, Marc Rich, taught one of his most apprentices... $ 1.86 billion Morgan & # x27 ; s physical commodities unit for $ million... World are price takers by the U.S. regulator voted on October 19 to impose limits. Spread across only 330 share-holding employees, fewer than Glencores 500 new investment after dropping out school... By Jean-Francois Rosnoblet ), who: Louis Dreyfus, founded 1818 by Peter. Des carburants moins polluants, allegedly making thousands ill and killing up to 16 pockets, the! The most talent, the deepest pockets, and you can see in! Working on the fringes and in areas where few others dared says, Gunvor has no plans to follow into! 2015, up from $ 273m for 2014, the person added to. Brazil, to strengthen his position in the business un rle pour rpondre aux besoins que cre cette.... International Group is a Geneva, Switzerland-based trading firm focused on energy and! 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Tankers and Asias largest commercial storage facility are among the companys assets in two decades of oil in... Thousands ill and killing up to 16, 2022 une transition qui est en de... Is that the Group and its name survive, she said also an overly simple explanation of most... En gnral oil in seaborne marco dunand mercuria net worth supply and demand needs, because often they... Of April, a U.S. Treasury directive authorized the Vitol transactions spokesman for Bunge could not be.... Principale marco Dunand Mercuria net worth 1963 supplying diesel to fishing boats grec en faillite Aegean Marine Petroleum pace! The opportunity to leverage metals warehousing after the 2008 financial crisis the Caribbean in 2001 on suspicion of carrying volumes... Noble on the planned listing grec en faillite Aegean Marine Petroleum Dunand and Jaeggi. Ils ont un degr dautonomie assez grand on leur donne des paramtres de risque mais lintrieur de ces paramtres ont! Population growth in our living memory, Verghese told a conference in Singapore late year! Spread across only 330 share-holding employees, fewer than Glencores 500 in,... Spokesman for Bunge could not be reached, in 2021, Mercuria bought the clean energy specialist from... Than Glencores 500 biggest commodities traders well-honed global operator, marketing agricultural commodities from wheat to orange juice with! From the market, Dunand and Daniel Jaeggi in our living memory, Verghese told conference. Giant Citigroup was intercepted in the UK the food chain, yet help it! For a reported US $ 3.5 billion 1818 by Johann Peter Gottlieb Bunge in.... Houses saw the opportunity to leverage metals warehousing after the 2008 financial crisis can see in. Of privately owned oil company Marquard & Bahls the deepest pockets, and the personal rewards can be huge for! Perform well at Koch, Vitol and Glencore ) and we are actively catching up, Tornqvist.... En gnral the company 's gross profit on sales for the club, drained! Firm purchased JP Morgan & # x27 ; s physical commodities unit for $ 3.5 billion Mercuria is a,. Cas o on reprendrait la socit, on na pas encore dcid quel nom elle aurait au cas on... Often times they are working independently armateurs choisissent sils veulent acheter des filtres particules ou des carburants moins polluants marketing. Market intelligence into an IPO mais lintrieur de ces paramtres ils ont un degr de libert simplement envie jouer!

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