Citadel, a hedge fund giant, is reportedly looking to purchase US assets for shale production.
Citadel has been in talks with a?U.S. Five people with knowledge of the matter have confirmed that Citadel is considering expanding its?business into?physical assets. Four sources claim that Ken Griffin's firm was one of the bidders on WildFire Energy. The company was sold earlier this year by Warburg Pincus & Kayne Anderson. Magnolia Oil & Gas won the auction and agreed to purchase the Eagle Ford shale operator in South Texas, for $4.06 Billion. Sources said Citadel had engaged in a number of discussions with private equity firms who own exploration and production companies about buying oil-weighted properties.
Sources say that Glencore's exposure in Radiant World is more than $500 Million.
Radiant World is a company that Glencore, the London-listed miner and trader, has stopped doing business with. The exposure amounts to over half a billion US dollars, according to two sources who are familiar with the situation. Bloomberg reported that Vitol Group, Cargill, and other commodity traders have stopped trading with Radiant World - one of the largest iron ore dealers in the world - after finding invoices or documents they provided to banks to be 'invalid. Glencore CEO Gary Nagle stated last week that the Swiss commodity?trader took a provision relating to Radiant World but its exposure to the Iron Ore Trader was not material.
Glencore's profits from energy trading soar as Iran war escalates
Glencore made 66 times as much money from energy trading in 2026's first half than they did the year before. They are now joining other major commodity traders who have benefited from the turbulence created by the Iran War. Glencore reported $2.66 billion of adjusted first-half earnings before interest and tax (EBIT) in trading on Wednesday. This is up from only $40 million one year ago. Donald Trump, the president of the United States, said that ExxonMobil & Chevron were making "too many money" from high gasoline prices. This is a threat to his Republican Party's ability to maintain control in November's midterm elections.
Gunvor Management Buyout Values Trading Group at Around $5 Billion, Sources Say
According to two sources, and a calculation made based on the financing of the deal via a loan given to employees, a management buyout has valued Gunvor at around $5 billion. Two sources familiar with the deal said that Gunvor's founder Torbjorn Tornqvist provided a loan to employees of more than 4 billion dollars for the buyout. According to the calculations of the two sources, the loan values Gunvor at $5 billion based on Tornqvist’s 86% stake. The financing of this deal provides a rare glimpse into the value of a privately owned commodity trading company. Prior to this, the size of the loan as well as its terms of repayment had not been reported.
Sources say that Chevron Vitol Trafigura are all competing to control Venezuelan oil imports.
Sources familiar with the situation say that Chevron, Vitol, Trafigura and other companies are competing to get deals from the U.S. Government to export crude oil from Venezuela. Venezuelan officials are trying to control oil sales in the United States. This competition is a reflection of the desire for many oil companies to gain access to Venezuela's crude oil stocks and production. Donald Trump, the U.S. president, has demanded Venezuela grant the United States access to the oil sector. This comes just days after the U.S. seized the South American nation's President Nicolas Maduro. U.S.
US EPA anticipates finalizing biofuel regulations in the first quarter of 2026
The U.S. Environmental Protection Agency is expected to finalize the 2026 and 2027 mandates for biofuel blends in 2026, 2027, and 2028, which were originally expected to be finalized in late October or in the first quarter of next year. The Trump administration has pushed one of its most important energy policies into 2026. Companies say that without clarity on quotas they are forced hold back on deals, and to delay spending decisions which shape output and margins. Sources familiar with the issue said that the decision was likely to spill over into next year.
Sources say that the Trump administration is unlikely to finalize biofuel quotas for 2026 this year.
Three sources familiar with the matter say that the Trump administration will not finalize the 2026 biofuel blending quotas by the end of the year. This extends the uncertainty over a policy closely monitored by rival oil and agriculture sectors. The White House's biofuels policy is being impacted by a number of decisions that are interconnected. The moves together have led to expectations that the administration will look for a wider - but elusive – agreement between rival oil interests and agricultural ones. Two sources said that the Environmental Protection Agency (EPA)…
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 load within the next few days. This was after the claimant BB Energy decided to not ask to continue the injunction. BB Energy has said that it will pursue legal action against South Sudan for its alleged failure of delivering oil BB had paid $142m in prepayment agreements spanning 2024-2025. If the country does not resume deliveries and payments promptly, BB Energy will take further legal action. BB Energy representatives…
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 has said that it will continue to take legal action against South Sudan for its alleged failure in delivering oil BB had paid $142 millions to South Sudan under prepayment agreements spanning 2024-2025. BB Energy representatives refused to request an extension…
US sanctions threaten to disrupt Lukoil's international assets
The sale of Lukoil's overseas assets to Swiss commodity traders Gunvor has been blocked by Washington, which is a result of U.S. sanctions. Lukoil has a global footprint that includes upstream oil and natural gas projects, refineries, and fuel distribution networks in Europe, Central Asia and the Middle East. The company produces a half-million barrels of crude oil per day, 0.5% of the global oil production, outside of Russia in countries like Iraq, Kazakhstan, and Azerbaijan. Here are some details on its international assets. Lukoil holds 75% of Iraq's West Qurna 2 Oilfield, which produces 480,000 barrels per day, making it one of the largest oilfields in the world.
Energy Traders Steer Shipping Toward Greener Horizons
The maritime industry is charting a new course toward decarbonization, yet this time round it is not only traditional shipowners at the helm. Major energy and commodity traders, whose shipping operations often carry large carbon footprints, are now investing in cleaner and more efficient shipping. With the International Maritime Organization (IMO) calling for a 40% reduction in shipping’s carbon intensity by 2030 from 2008 levels, these players are now deploying new methods to cut emissions at sea. Retrofitting old vessels or even order state-of-the-art tankers with clean fuel capacity…
Trafigura reports slight increase in net profit for the first half, but lower revenue
Trafigura, a global commodity trading company, reported Thursday that it's net profit increased slightly from the previous year to $1.52 billion for the first half 2025 of its financial year. However its revenues decreased due to lower average commodity prices. The net profit of the unlisted company was up by 3% compared to the first half in 2024. This stabilised after the sharp decline in the 2024 full year results when the company found a $1.1billion fraud in Mongolia, and major trading houses adjusted for the end of a record earning period in 2022-2023.
Spot prices remain unchanged as sunny and still weather is expected on Monday
German and French spot price were not traded on Friday morning. A surge in solar energy supply on Monday, and a lower demand because of higher temperatures was expected to offset an expected fall in wind supply. This would put pressure on prices. LSEG data shows that the German and French baseload power prices for Monday were not traded by 0946 GMT. According to LSEG analyst Naser Hachemi, higher renewable production at the weekend will compensate for a week-on-week increase. Prices are expected to reach zero or near-zero in the middle hours of the day because of high solar production.
Sources say that commodity traders will submit bids by May for Italy's IP.
Two sources confirmed on Thursday that global commodity traders Glencore and Gunvor were considering the possibility of buying oil refiner Italiana Petroli API group. State Oil Company of Azerbaijan is also interested in the asset, two sources with knowledge of the transaction said. Glencore, Gunvor, and IP have declined to comment. SOCAR did not respond to a request for comment. IP, owned by Brachetti Peretti, an Italian family, has a refining capacity totaling around 200,000 barrels a day. It also owns a network consisting of 4,600 fuel station.
Sources say that commodity traders are expected to bid for Italy's IP in May.
Two sources confirmed on Thursday that global commodity traders Glencore and Gunvor were considering the possibility of buying oil refiner Italiana Petroli API group. State Oil Company of Azerbaijan is also interested in the asset, two sources with knowledge of the transaction said. Glencore and Gunvor have declined to comment. SOCAR and IP did not respond to requests for comment. IP, which UniCredit advises on the possible sale, is owned and operated by the Italian Brachetti Peretti family. It has a total refinery capacity of about 200,000 barrels a day. It also owns a network consisting of 4,600 fuel station.
Energy assets affected due to sanctions and standoff between Russia and the West
On Tuesday, the United States and Russia reached separate agreements to stop attacks on energy and maritime targets. Washington also agreed to press for the lifting of some sanctions against Moscow. In the event that a peace agreement is reached between Russia and Ukraine, the potential for a relaxation of U.S. sanctions and EU sanctions has led to the question of what will happen to the disputed assets which were affected by international sanctions. This includes both Russian assets located in Europe as well as assets owned by foreign companies in Russia. The main source of revenue for Moscow is oil and gas exports.
Sources confirm that Egypt has awarded the tender for 20 LNG winter cargoes to Egypt.
Four trading sources said on Friday that Egypt's recent bid for 20 cargoes (cartons) of liquefied gas to cover winter demand following a sharp decline in domestic production has been fully allocated. It is the first time Egypt issued an tender to cover the winter demand since 2018. This year, the most populous Arab nation has become a net gas importer. It has purchased more than 50 cargos and abandoned plans to be a reliable European supplier. The tender was issued on September 12 by the Egyptian General Petroleum Corporation and covered the demand for the 4th quarter of 2024. It was awarded with a deferred-payment basis lasting six months.
Mercuria Teams Up with Envysion for Project Investment
Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management have agreed to co-invest in mining and energy projects, as default-hit banks tighten their purse strings and leave commodities firms seeking other funding.The deal, signed on Wednesday, will see Mercuria present potential projects for investment to Envysion, founded and led by former Julius Baer banker Veronica Shim. Envysion will then decide whether to participate via a fund with a start-up amount of $100 million to $200 million.Such tie-ups between companies…
Oil Traders Bet on Economic Upswing in 2020
Crude oil traders are betting the market will tighten significantly next year, even as the major statistical agencies predict production will outstrip consumption and oil inventories will rise.Most of the divergence can be explained by differing assumptions about global growth in 2020.The International Energy Agency (IEA), the U.S. Energy Information Administration (EIA) and the Organization of the Petroleum Exporting Countries are all projecting that the oil market will be in surplus in 2020.Each of the three agencies is forecasting that…
Swiss, Brazil Try to Unravel Petrobras Affair
Crimefighters in Switzerland and Brazil pledged to intensify cooperation to resolve the sprawling corruption case linked to state oil firm Petrobras in which around 700 million Swiss francs ($701 million) remain frozen in Switzerland.Switzerland has so far returned roughly 365 million Swiss francs ($365.6 million) to Brazil related to Petrobras and construction firm Odebrecht, the Swiss Office of the Attorney General (OAG) said on Tuesday, including 9 million francs in March.Around 70 related criminal proceedings are under way in Switzerland…