French ban on US LNG reverses with Engie deal
Engie has signed a 15-year sale and purchase agreement for buy US LNG, reversing Franceโs implicit ban on shale gas supplies.
Engie has signed a 15-year sale and purchase agreement for buy US LNG, reversing Franceโs implicit ban on shale gas supplies.
Ukraine asked some of the worldโs top commodity trading houses to stop dealing in Russian oil, saying such contracts help fund Vladimir Putinโs war.
Thailandโs B.Grimm Power and Siemens Energy have joined the Energy Capital Vietnam (ECV)-led consortium to develop an LNG-to-power project in Southern Vietnam.
Global Energy Storage (GES) plans to develop an industrial site at Rotterdam to create storage and production capacity for a range of low-carbon fuels and chemicals.
Margin calls stemming from the gas market have not pushed Gunvor to the brink, the trader said.
Tellurian has signed a sale and purchase agreement with Vitol for the supply of 3 million tonnes per year.
In late 2019 Gunvor Group, one of the worldโs biggest oil traders, said it would make a clean break from the past by settling a long-running bribery case in Africa.
As a trio of women is set to ascend to the top of one of the worldโs most powerful oil-trading operations, the gender gap in the rest of the industry remains stark.
Swiss companies will no longer be able to deduct bribes paid from taxes โ as of January 2022.
Global refinery expansion is coming just as product demand struggles, Bank of America Securities (BofA) analysts have warned.
Demand in Europe and the US may have peaked already, the heads of three trading companies have said, but growth will be sustained by Asia.
Oil traders are gathering in London for whatโs normally a week of lavish parties, dealmaking and market chatter. Chinaโs coronavirus means this yearโs events will be more subdued โ and fewer in number โ than usual. The talk will be about absent friends and uncertain demand.
The Office of the Attorney General (OAG) of Switzerland has ordered Gunvor to pay almost 94 million Swiss francs ($94.7mn) for failing to prevent corruption in Congo Brazzaville and Cote dโIvoire.
Not since the days of fugitive oil merchant Marc Rich has the commodities trading industry faced so much global scrutiny.
A former oil trader with Gunvor Group was given an 18-month suspended jail sentence after admitting to bribing public officials to secure oil cargoes from the Republic of Congo and Ivory Coast.
Top executives at the worldโs largest oil-trading houses said the worst of the marketโs woes are probably over, with some predicting prices will climb to $50 a barrel by next year.
Oil traders are recording some of their best results on record, whilst the industry, and many countries, are reeling from the global downturn in the oil price.
Gunvor Groupโs profit soared to a record $1.25 billion last year as the commodity trader sold the bulk of its Russian assets and earnings from oil trading increased.
Trading house Gunvor has struck a deal to sell its last asset in Russia, according to reports. The company plans to get rid of a 50% stake in the Novorossiisk fuel oil terminal to a subsidiary of Kremlin-controlled Transneft.