TRAFIGURA GROUP
World's biggest energy trading firms are returning to metals
The shift comes as forecasters turn increasingly bullish on copper, aluminum and other metals, where long-anticipated production shortfalls are starting to take shape. Many commodities houses also see strong links between metals usage and power markets - another growth area for traders.
The 4 billion pieces of paper keeping global trade afloat
Less than 2% of trade happening globally is done digitally. But it is on the verge of change as world’s top 10 container shipping lines have committed to digitising 50% of their landing bills within five years.
Extreme heat fast becoming a threat to global fuel security
As the world makes its efforts to lessen its dependency on fossil fuels, the rise in weather-driven refinery disruptions focuses on the surging array of challenges. The rising heat has led to refiners slash oil processing by nearly 2% globally in the past two months.
Foxconn pings other large business houses as Vedanta chip JV stalls
Vedanta Resources Ltd (VRL), the parent entity of vedanta limited recently raised $450 million from two of its principal rivals — Trafigura and Glencore to repay debt via pledging of equity, which analysts maintained underlines the dire financial situation of the promoters and their inability to tap more traditional sources of funding such as banks and private credit among others.
Nayara Energy exports dip, just 0.07 mn tonne diesel flows to Europe in FY23
India's Nayara Energy, the second-largest private oil refinery, experienced a decline in fuel exports due to a surge in domestic sales, according to a company spokesperson. During 2022, 61% of the firm's sales were from the domestic market, with 39% from exports including aviation turbine fuel, diesel, and petrol. More than 84% of all fuel exports were to Asia, the Middle East, and Africa, and the bulk of production was sold via Nayara's 6,500-plus petrol stations.
Next big risk for booming EV sales: Tight lithium supplies
Rampant lithium demand has caught many forecasters by surprise, with booming global EV sales causing consumption to double over the past two years.
- Go To Page 1
Ending ties with Russia's Rosneft, Trafigura sells Nayara stake to Hara Capital Sarl
The deal size was not disclosed in the official statement. People involved in the transaction said Hara, a wholly owned subsidiary of Italian energy investment company, Mareterra Group Holding, paid $165.9 million or the book value of the stake, based on disclosures in Trafigura's last annual report.
Nayara Energy exports 80% of fuel to Asia, Africa; none to EU
Nayara, which operates a 20 million tonnes a year oil refinery at Vadinar in Gujarat, exported 4.46 million tonnes of petroleum products including diesel, jet fuel and gasoline from April 2022 to October 2022, a company spokesperson said.
Top oil traders see steady demand despite economic headwinds
The falling oil prices and months of severe volatility have spooked the market, with major consumer countries still tapping strategic stocks to cool prices while top exporters in the OPEC+ alliance may take the opposite view and boost output this week.
India's Nayara Energy buys Urals after 1 year
Indian private refiner Nayara Energy, part-owned by Russia's Rosneft, has purchased Russian oil after a gap of a year, buying about 1.8 million barrels of Urals from trader Trafigura, two trade sources said and Refinitiv data shows.
Nestle, tobacco groups latest companies to pull back from Russia
The moves came after Coca-Cola and McDonald's halted sales in Russia, where a senior member of the ruling party has warned that foreign firms which close down could see their operations nationalised.
Europe is desperate for aluminum and traders are getting creative
With demand booming, any further supply disruptions would be a big blow to manufacturers who are already paying steep prices to get hold of spot metal.
Nayara Energy ties up Rs 4,000 crore in funding for petrochemical project
The company plans to use the funds to set up a 450,000 tonnes per annum polypropylene plant at its Vadinar refinery in Gujarat, Nayara said in a statement. The company is already in possession of the required land.
Facebook expands office space with new lease, renewals in Mumbai's Bandra-Kurla Complex
Facebook, which has over 330 million active users in India, had initially leased over 20,000 sq ft in this tower in 2015 to set up its corporate office. Following this, the company has been leasing additional space in this office building controlled by Blackstone Group-entity Nucleus Office Parks.
Oil giants see crude at $100/barrel on supply side constraints
Low investment is “going to exacerbate supply and demand tightness as the economies pick back up again, and then in time we’ll see supply pick up and rebalance,” Exxon Mobil Corp. CEO Darren Woods said.
Great commodities boom of 2021 hits pause amid wider selloff
A rebound in the world’s largest economies as the vaccination against Covid-19 rolls out is stoking demand for metals, food and energy when supplies are still constrained, creating short-term shortages in goods ranging from oil to lumber.
The shipping industry wants to be taxed for its carbon emissions
Several trade groups, representing more than 90% of the world’s merchant fleet, have submitted a proposal to shipping’s United Nations regulator calling for it to prioritize a carbon tax for the industry, the International Chamber of Shipping.
Rubber scarcity creates new headache for beleaguered automakers
The rubber industry is dominated by smallholders, making it difficult for producers to adjust quickly as demand changes, prices fluctuate or supply chain problems emerge.
The big oil turnaround: From negative prices to a bull market
The renewed strength of the “physical market” for crude driving a surge in world of oil contracts.
Oil prices rise on faith in supply cuts, demand recovery
U.S. West Texas Intermediate (WTI) crude futures climbed 23 cents, or 0.6%, to $39.07 a barrel at 0209 GMT, while Brent crude futures rose 18 cents, or 0.4%, to $41.69 a barrel. Both contracts rose around 2% on Thursday.
Essar leads corporate deleveraging; pays off Rs 1.4 lakh crore: Prashant Ruia
While the group deleveraged some of its assets, its flagship Essar Steel was dragged to bankruptcy proceedings by lenders over unpaid loans.
Polycab India jumps 22% on market debut
The Rs 1,345 crore IPO, which was sold between April 5 and April 9, was subscribed 52 times.
Polycab Wire: Participation from domestic MFs has been very encouraging, says CEO
Polycab OFS is Rs 945 cr and fresh issue is Rs 400 cr, a total of Rs 1,345 crore, says R Ramakrishnan
Trafigura denied licence to operate fuel pumps in India
Geneva-headquartered company’s investment here not enough to make it eligible for a licence.
Calls for $100 crude oil are back: 'We’re nowhere near the end of this rally'
Oil has been rallying as worries about Iran sanctions, which kick in on November 4.
BPCL, HPCL, IOC shares down over 2% as crude hits fresh 4-year high
JP Morgan said US sanctions on Iran could lead to a loss of 1.5 million bpd.
Oil prices could rise to $100 a barrel by 2019, warn merchants
Crude oil prices could rise to $90 per barrel by Christmas.
Nayara Energy raises Rs 2,400 crore to refinance short-term debt
Nayara Energy is an integrated oil refining and marketing company, operating India’s second largest single site refinery.
Nayara Energy raises Rs 2,400 crore via bonds
Nayara, owned by Russia's Rosneft and Trafigura-UCP, saw its Rs 1,500 crore issue being over-subscribed by 60%.
Load More
