VITOL
Macquarie drops plan to sell India clean energy company Vibrant
Vibrant, a portfolio company of Macquarie's Green Investment, is currently operating and delivering 1.9 GW of renewable energy solutions to corporate clients across India. It has an active pipeline of 3 GW. The company was in discussions with several players such as Bain Capital, Sun Energy and Vitol earlier.
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.
Vedanta seeks buyers for natural gas from Barmer field
The sales price of the gas would be determined by combining the monthly value of Asian spot LNG benchmark JKM with a variable that bidders would quote in the auction. The value of the variable would start from a negative $0.20 per mmbtu. At the current JKM value of $9.4 per mmbtu, the starting bids would be $9.2.
The world’s last wave of oil refining bets all about India
India is embarking on a capacity expansion of its oil refineries to meet the country's rising thirst for fossil fuels. The building blitz aims to raise production of traditional transport fuels such as gasoline and diesel, which will increase India's refining capacity by more than 20% over the next five years. This boost comes at a time when the global refining industry is declining in the US and Europe, making India a rare exception. The slower adoption of electric vehicles in India and the country's growing transport demand will keep the appetite for gasoline and diesel higher for longer.
GAIL signs long-term LNG deal with UAE's ADNOC Gas
GAIL has signed a long-term deal with UAE's ADNOC Gas to buy 0.5 million tonnes of liquefied natural gas annually for ten years. The deliveries will begin in 2026, bridging India's natural gas demand gap and opening strategic partnerships with ADNOC and Vitol.
Domestic natural gas consumption surges owing to favorable international prices
Higher prices hurt India’s LNG imports and overall gas consumption last fiscal year. Demand recovered this fiscal year as prices normalized. LNG imports are up 14% year-on-year in the April-December period while total gas consumption in the country is higher by 9.4%. Imports account for 46% of total domestic gas consumption.
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GAIL signs 10-year deal with Vitol for LNG supply
GAIL has partnered with global commodity trader Vitol to purchase 1 million tonnes of liquefied natural gas (LNG) annually for ten years. The deal will start in 2026 and will augment GAIL's large Liquefied Natural Gas portfolio. GAIL, India's largest natural gas marketer and transporter, is engaged in multiple negotiations for long-term LNG supply
Bain Capital in talks to acquire majority stake in Vibrant Energy
Vibrant Energy, which primarily sells electricity to corporate and industrial (C&I) customers, operates a renewable energy portfolio of 132MW, with an active pipeline of 3GW. The group develops open access renewable energy solutions (wind and solar) for corporate customers.
India resumes imports of Venezuelan oil, Reliance seeks direct deal
The resumption in trade between the OPEC producer and what it was its second largest destination for oil exports comes after Washington in October temporarily lifted sanctions banning Venezuelan oil exports, prompting a flurry of spot sales of crude and fuel through middlemen and traders, mostly to China.
Corporate funding in global solar industry surges 55% in January-September: Mercom Capital
Despite inflationary challenges and elevated interest rates, financing in solar industry has remained robust through the first three quarters of 2023, Mercom Capital Group CEO Raj Prabhu said."The resilience can be attributed to a strong global push to achieve energy transition objectives and demand created by the Inflation Reduction Act - which has helped the sector weather persistent economic challenges and retain the interest of investors," he added.
Petronas, two others eye green energy co Fourth Partner
Petronas owns Amplus Solar in India that has an operating portfolio of 1.5 GW of renewable assets. Vitol owns around 1.2 GW of renewable assets, while Indonesia-based Sun Energy has installed over 280 MW of renewable power capacity for corporate clients. Norfund, a Norway government sponsored investment fund, which invested $100 million in the company in 2021, will continue to hold its stake, the source added.
AT Capital Group and Vitol invest $350 million in Juniper Green Energy
Singapore's AT Capital Group and Dutch commodities trading firm Vitol have invested $350 million in Juniper Green Energy, an independent renewable energy power producer based in Delhi. This follows an initial commitment of $200 million two years ago. Juniper Green Energy plans to use the funding to expand its operational capacity to 2.5 GW by 2026. The company currently has an operational portfolio of 800 MW, with an additional 435 MW under construction and a development pipeline of over 3 GW across solar, wind, and hybrid power projects.
Vitol, Sun Energy look to buy Macquarie's India renewable biz
Vibrant Energy, which primarily sells electricity to corporate and industrial (C&I) customers, operates a renewable energy portfolio of 132MW, with an active pipeline of 3GW. The group develops open access renewable energy solutions (wind and solar) for corporate customers. About 70% stake in Vibrant Energy is owned by Blueleaf Energy, a portfolio company of Macquarie's Green Investment Group, while the rest is held by US-based ATN International.
India says Petrochina, other global oil companies keen to build SPRs
During two roadshows held to seek private investment for building the SPRs, global companies, including BP, Shell and traders Trafigura, Vitol, Glencore, Vopak and KNOC showed interest, Rameswar Teli said. India, the world's third-biggest oil importer and consumer, has 5.55 million tonnes of crude reserves at three locations in southern India.
India set to get more channels to buy cheap Russian oil as new traders muscle in
State-run refiners such as Indian Oil Corp. are warming to the idea of buying from the lesser-known traders. Refinery officials said they’ve found it easier to work with them, rather than directly with Russian producers, as there’s less bureaucracy that slows negotiations with firms such as Rosneft PJSC.
Indian Oil buys 3 million barrels of Urals for May loading - trade sources
This is the second purchase of Urals by IOC since Russia invaded Ukraine on Feb. 24. It bought similar volumes of Urals from Vitol earlier this month for delivery in May.
Two-minute battery changes propel India’s shift to e-scooters
The situation is similar in India, especially when it comes to the burgeoning market for electric two- and three-wheelers. The nation of about 1.3 billion people has just 1,640 operational public EV chargers, more than half of which are concentrated in nine major cities.
Chetan Maini's Sun Mobility raises $50 million in latest round of funding
Sun Mobility works in the area of battery swapping for electric vehicles (EV) and notably has tied up with Italy’s Piaggio to offer battery swapping for its electric three-wheelers in India.
Sun Mobility raises $50 million from Vitol
This strategic investment by Vitol will enable significant acceleration and expansion of Sun Mobility's services across India and select global markets, the company said.
UK's Heathrow Airport to use renewable jet fuel for first time
Vitol, the world's biggest independent oil trader, is a fuel supplier at Heathrow through its Vitol Aviation arm and expects to deliver more renewable jet fuel ahead of the COP26 climate summit in Glasgow later this year, to cut attendees' emissions.
Major oil trading firms stow diesel, jet fuel on supertankers as demand rebound eyed
Trafigura, Glencore and Vitol are holding about 1.5 million tonnes of the industrial and aviation fuel on at least seven Very Large Crude Carriers (VLCCs) off Singapore, Malaysia, Sri Lanka and Africa, according to shipping sources and data from analytics firms Vortexa, Kpler and Refinitiv.
Qatar tightens global gas market grip with bold expansion moves
As competitors struggle to break even due to lower prices, the Qatari firm last month announced it will boost LNG output by about 40% to 110 million tonnes per annum (mtpa) by 2026 in phase one of its expansion of North Field LNG, the largest single LNG project ever sanctioned.
In Saudi-Russia price war, the big winners are oil traders
A new price structure, called a contango, allows the traders to make easy money by buying crude cheap, storing it, and selling it forward.
Reliance offers more naphtha but non-petchem grade
However, some 60 percent of the August volumes were considered off-specification as the grade does not meet the requirements of the petrochemical industry standard
Commodity traders lament world where everybody knows everything
It’s critical for traders to evolve as margins have declined because of more transparency.
Trump uncertainty, doubt over output cut to take oil prices on a bumpy ride: Vitol
“I think this market is going to be very volatile,” Kho, the president of Vitol Asia Pte., said in an interview. “People are worrying about US policy.
The glut strikes back as oil returns to brink of bear market
Oil is poised for a drop of 20% since early June. While excess crude production is abating, inventories around the world are brimming.
State Trading Corporation gets many takers for government wheat tender
STC won highest bid from Swiss-based Vitol which quoted $282.62 a tonne to export 50,000 tonne wheat.
Essar Energy in talks for Royal Dutch Shell's stake with Exxon, Chevron, Shell & ConocoPhilips
Essar had bid for Royal Dutch Shell's stake in four Nigerian oil fields but had fallen out of the race when Shell did not find Essar's offers attractive.
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