Reuters Commodity merchants and investment firms such as Citadel, Gunvor and Trafigura are bolstering U.S. teams that specialize in trading renewable fuels as demand soars, according to people familiar with the matter. Many trading firms already have an established presence in Europe, but the production of advanced biofuels that act as petroleum fuel substitutes has driven hiring in the United
Reuters LONDON -Global commodities trader Trafigura has agreed to buy Angolan state oil giant Sonangol’s 31.78% stake in loss-making Puma Energy for $600 million in a step towards raising its holding to more than 90%. Trafigura and Puma said in a joint statement on Friday that Puma had also agreed to sell its Angolan business and assets to Sonangol for
Reuters LONDON – Global commodities trader Trafigura said on Friday it had formed a joint venture with U.S. refiner Phillips 66 (PSX.N) to build a major deepwater port in Texas capable of handling supertankers, ditching its own competing project. The Bluewater Texas Terminal, to be located 21 nautical miles east of the entrance to Corpus Christi port, will have two
Houston Chronicle The world’s largest energy traders enjoyed one of their best ever years in 2019 as pipeline outages, dramatic changes in ship fuel regulations and Middle East conflicts shook up the global oil market. The bonanza extended beyond the independent traders like Vitol Group and Trafigura Group Ltd. to the in-house units of oil giants Royal Dutch Shell Total
From Caller Times Local opposition is continuing to grow against a proposed offshore terminal that could be located near the Padre Island National Seashore, with several governmental entities asking Gov. Greg Abbott to put a stop to it. One week after Nueces County commissioners sent a letter to the Texas General Land Office and Abbott expressing “deep concerns” about the terminal
Largest U.S. crude and condensate exporter in 2017 is behind the project From Offshore Technology Multinational commodities trader Trafigura has applied for permission to build a deepwater oil port in Texas, US, capable of accommodating supertankers, in order to increase US oil export infrastructure. There are currently no inland ports in the U.S. that can fully load very large crude
