Vitol to lend $2 billion to Uganda's state oil company
According to an official from the finance ministry, Uganda National Oil Company, owned by the state, plans to borrow 2 billion dollars from a division of global commodities trader Vitol in order to fund infrastructure projects including a crude refinery. In early this year…
UK court lifts BB Energy’s injunction to allow the sale of South Sudan oil cargo
The London High Court lifted on Thursday an injunction that prevented the sale of a South Sudanese oil cargo scheduled to be loaded in the next few days. This was after BB Energy, the commodities trader who filed the case, decided to not ask to continue the injunction.
BB Energy, a Houston-based trader, has parted ways with several Houston traders as part of a major reorganization.
Sources familiar with the situation said that commodities trader BB Energy laid off more than a dozen employees from its Houston office and parted ways with some oil traders as part of a major restructuring. A spokesperson for BB Energy confirmed that the company had…
Commodities trader BB Energy lays some Houston traders off in major reorganization
Sources familiar with the situation said that BB Energy, a commodities trader, has cut over a dozen employees from its Houston office. This includes oil traders. The move is part of a major restructuring. A spokesperson for BB Energy confirmed that the company had…
Russia's Lukoil talks to potential foreign buyers about its assets
Lukoil, Russia's second largest oil producer, said it was in talks on Friday with potential buyers for its foreign assets after sanctions were imposed by the UK and US last month and a deal made with Gunvor Trading House collapsed. The specific deal would be announced…
EUROPE GAS-European gas prices stable near key technical support
Dutch and British gas contract prices were mostly firmer Tuesday. This was despite the fact that there are mild weather forecasts, and a steady supply of LNG and gas via pipeline. LSEG data shows that the benchmark Dutch front-month contract was up 0.29 euro at 31.55 Euro per megawatt hour at TTF hub…
Vulcan Energy, Australia's lithium supplier, signs agreement with Glencore
Vulcan Energy announced on Monday that they have signed an agreement to supply Glencore with lithium monohydrate hydroxide from their Lionheart Project located in Europe. Vulcan will provide Glencore between 36,000 and 44,000 tonnes (or about 20 percent) of its current production over a period of eight years.
Traders estimate the October raw sugar shipment at 1,52 million tonnes.
According to two traders, the initial information on the delivery of raw sugar at the expiration of the October contract, on ICE Exchange, was 30,032 tons or approximately 1.52 million metric tonnes. Upon confirmation, this would be the fourth largest volume delivered for an October contract expiration.
Sources say that ConocoPhillips is close to selling Oklahoma assets to Stone Ridge Energy.
Three people with knowledge of the situation said on Tuesday that ConocoPhillips, a U.S. oil producer and gas company, is in advanced discussions to sell assets in Oklahoma for $1.3 billion to Stone Ridge Energy. One source said that Oklahoma City's Flywheel Energy will manage the assets for Stone Ridge Energy.
Trafigura announces new management changes
Trafigura, a global commodities trader, announced on Friday a round of new management changes. Two people were appointed to the executive committee while one person left. These moves are the latest in the series of leadership transitions that have taken place at the Swiss-based trading firm in recent years.
Trafigura announces new management changes
Trafigura, a global commodities trader, announced on Friday a round of new management changes. Two people were appointed to the executive committee while one person left. These moves are the latest in the series of leadership transitions that have taken place at the Swiss-based trading firm in recent years.
The largest raw sugar contract ever delivered is ICE March
According to preliminary information provided by two sugar traders, Friday, deliveries of raw sugar at the expiry date of the contract for March on ICE were 34,385 tons or 1,74 million metric tonnes, the highest ever delivered under that contract. According to two sources…
Low Carbon, a UK investment company, sells 6 GW of Dutch battery storage.
Low Carbon, a UK-based renewables energy investor, has announced that it sold a portfolio of 6 gigawatts of battery storage project in the Netherlands to S4 Energy. S4 Energy is owned by global commodities trader Castleton Commodities International. According to Low Carbon…
Trader Wilmar reduces projections for Brazil sugar production
Wilmar International, a commodities trader based in Asia, cut its forecasts for sugar production by Brazil in 2024/25 due to the rapid decline in agricultural yields and quality of canes caused by fires and dryness in farmland. Wilmar now expects Brazil’s Centre-South…
The traders estimate that the ICE raw sugar shipment for October will be around 1.7 million tons.
According to three sugar traders, the estimated raw sugar deliveries at the end of the contract for October on ICE were around 33,500 tons or 1.7 million metric tonnes. The traders said that Wilmar International, a commodities trader based in Singapore, was the only receiver of sugar.
Palantir, Trafigura to Track Carbon Emissions for Oil, Metals industry
Palantir Technologies Inc and global commodities trader Trafigura have set sights on a new market, their chief executives told Reuters on Monday: tracking carbon emissions for the oil, gas, refined metals, and concentrates sector.The companies are building a platform…
Trafigura Takes a Bet with North Sea Oil
Commodities trader Trafigura has seized the moment and taken a rare dominant position in the North Sea crude market over the past two weeks as oil demand jumped, trading sources said.A combination of OPEC-led global production cuts, cheap freight rates, and oil stuck…
Oil Rises from 18-Year Lows after U.S., Russia Agree to Talks
Oil recovered ground on Tuesday after U.S. President Donald Trump and Russian President Vladimir Putin agreed to talks to stabilize energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide. Brent crude was up by 30 cents…
Trafigura, Phillips 66 to Build Deepwater Texas Oil Port
Global commodities trader Trafigura said on Friday it had formed a joint venture with U.S. refiner Phillips 66 to build a major deepwater port in Texas capable of handling supertankers, ditching its own competing project.The Bluewater Texas Terminal, which will be…
Puma Energy Sells Fuels Business to Chevron Australia
Singapore's Puma Energy, the retail and midstream arm of global commodities trader Trafigura, said on Thursday it would sell its Australian commercial and retail fuels business to Chevron Australia for A$425 million ($288 million).Puma Energy is 49%-owned by Geneva-based Trafigura…