Vitol

As the Vivit Altais leaves drydock, we remain on track to meet #IMO2030 targets with newly fitted energy saving technologies. Read more about what we're doing: https://bit.ly/3Xb7CUf

VTTI completes acquisition of 50% of Dragon LNG We are pleased to report that we have completed the acquisition for 50% of Dragon LNG and Dragon Energy Group Limited (also known as Dragon LNG) in the United Kingdom. ‘’Facilitating the import and distribution of LNG aligns with VTTI’s strategy to support the global energy transition and ensure security of supply. As an energy infrastructure company with extensive storage industry experience, we are well-positioned to develop, operate, and manage LNG terminals worldwide. We are looking forward to work together with Shell to ensure that Dragon LNG continues to operate in a safe and reliable manner while working towards accelerating its decarbonisation and growth path,’’ shared Guy Moeyens, CEO of VTTI. Read more: https://lnkd.in/dSQb4Q-2 #VTTI #Energytomovetomorrow #LNG

Vortex Energy announces new CEO! We are excited to announce Wojciech Orzech as the new CEO of Vortex Energy. With over 20 years of experience in the energy and infrastructure sectors, including leadership at PKP Energetyka, Wojciech brings valuable expertise to the role. Wojciech Orzech will lead Vortex Energy’s sustainable energy initiatives, and we are confident that his experience will be pivotal for the company's continued growth. Wojciech, assuming the role of CEO, said: "𝘋𝘦𝘤𝘢𝘳𝘣𝘰𝘯𝘪𝘻𝘪𝘯𝘨 𝘵𝘩𝘦 𝘦𝘯𝘦𝘳𝘨𝘺 𝘴𝘦𝘤𝘵𝘰𝘳 𝘪𝘴 𝘦𝘴𝘴𝘦𝘯𝘵𝘪𝘢𝘭, 𝘢𝘯𝘥 𝘗𝘰𝘭𝘢𝘯𝘥 𝘩𝘢𝘴 𝘵𝘳𝘦𝘮𝘦𝘯𝘥𝘰𝘶𝘴 𝘱𝘰𝘵𝘦𝘯𝘵𝘪𝘢𝘭 𝘪𝘯 𝘳𝘦𝘯𝘦𝘸𝘢𝘣𝘭𝘦 𝘦𝘯𝘦𝘳𝘨𝘺." Congratulations and best wishes in the new role! 🌱 Read more in the article 🌐 https://lnkd.in/gxrNmge9 #RenewableEnergy #VortexEnergy #Leadership #SustainableGrowth #CEO #EnergyTransformation

Vitol CEO Russell Hardy talks to leading Italian news paper Il Sole 24 0re about the company’s investment in Saras; “Delisting can wait, Vitol will bring an international outlook” https://lnkd.in/evsFve4Z

European refining margins fall as global runs approach an all-time high #European refining margins fell $3.80 in Q2. Longer-term, they are down $7 per barrel on 2023 and $11.50 below 2022, due to a surge in runs which are set to exceed all-time highs later this year. Over 80% of the 2.2 million barrels a day (b/d) of new refining capacity in the #US, #ArabianGulf and #Nigeria is now operational, with work ongoing to add the remaining 400k+ b/d. In early July US #GulfCoast runs achieved 9.4 million b/d of #crude throughput - the highest weekly level for six years. While over the course of this year the #AtlanticBasin refiners have achieved utilisation rates of almost 90%, back to pre-COVID levels, as refineries finally catch up on disrupted maintenance. #oil #refining #commodities

An exciting step forward for Vitol Bunkers as we partner with ZeroNorth to roll out their eBDN (electronic bunker delivery note) solution in Singapore. We are pleased to support the Maritime and Port Authority of Singapore (MPA) ambition to be a digital bunker port as well as boost the efficiency of our processes. Read more here: https://lnkd.in/dRGAhsGh #digital #bunkering #Singapore

LNG is an important option for the shipping industry to reach FuelEU compliance and IMO targets. It really is a fuel in transition, with not just modern low methane slip engines compliant with FuelEU requirements until 2035 but the option to consume Bio-LNG, and when available e-fuels. With more than 500 dual fuel vessels on order right now, LNG bunkering is needed in more locations and it is exciting to be part of this energy transition. The Vitol Bunkers portfolio can now add low carbon intensity Bio-LNG along with biofuels B24, B30, B100 and potentially methanol with our IMO 2 barges to assist the industry in reaching decarbonisation targets. #vigo #vitolbunkers #LNG #shipping #vitol #decarbonisation https://lnkd.in/ebZjbTcN

Great discussion at the #ABD24 session yesterday, ‘The key role of pan-African banks and multilateral financial institutions’. To describe the current situation Michael Curran, Head of carbon and environmental products at Vitol started his remarks on a positive note saying, ‘the solutions are there and feasible, but they need to be implemented. For example, $4 per person per year between now and 2030 would bring clean cooking to 1bn people in Africa.' ‘This goes to the heart of our recent announcement at the IEA summit on #cleancooking when we announced our intention to commit $550m to clean cooking solutions by 2030.’   As the discussion moved on to the role of carbon markets in Africa, Michael explained, ‘#Carbon markets provide the opportunity for #Africa to finance its development’ ‘The mechanisms and resources are there; you just need a price for carbon and an efficient market to realise the benefits.’ There was robust discussion on what impact carbon projects and the expansion of the African carbon market might have on the continent’s ability to industrialise. Michael was of the opinion that, ‘Whilst markets are voluntary, there will often be a focus on nature-based projects, but once regulation is brought in, there’s an opportunity for nations to determine a framework for projects which include carbon credits based on things like industrial efficiency and #emissions reduction. This in turn would accelerate and incentivise development.’ You can read more about our carbon activities here https://bit.ly/45HZnBK #Commodities #CarbonMarkets #Energy #EnergyTransition

📢 Our 2023 Environmental, Social, and Governance (ESG) report is now available here: https://lnkd.in/dhSgpMKW Check out the report to learn how we are: · Delivering energy security, affordability and accessibility. · Developing sustainable energy businesses in e-mobility, biogas, hydrogen, biofuels and nature-based carbon removals. · Investing USD 3.5 billion by 2026, with more than two thirds dedicated to sustainable energies. We recognise there is still a way to go to achieve a sustainable future, but we are focused on building our integrated portfolio of conventional and sustainable energy solutions as the partner of choice for the energy transition. #sustainability #esg #esgreporting #sustainabilityreporting #renewablefuels #renewableenergy #transition

Vitol's Head of Carbon and Environmental Products, Michael Curran is taking part in #AfricaBusinessDay2024 tomorrow, discussing the role of carbon markets in bringing finance to #Africa - join in person or online if you can!