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...While at Macquarie O’Kane turned the Australian bank into an energy trading power house....
...Vitol and Gunvor, two of the world’s largest independent energy traders, remain significant buyers of refined oil from Russia more than a year after both companies pledged to drastically reduce their business...
...Despite concerns raised by the US, the government run by Giorgia Meloni approved the sale to GOI Energy after the company outbid US private equity firm Crossbridge and Swiss commodity trader Vitol....
...Vitol, has been working in this area for more than 15 years and is also expanding in this area, uses its portfolio of carbon projects to offer offsets to customers buying its energy products....
...Last year Vitol reported $400bn in revenues, while Trafigura posted $244bn in revenues and a record $7.4bn in profit....
...While at Macquarie, O’Kane turned the Australian bank into an energy trading power house and had been tipped as a possible next chief executive....
...Last week a former trader at rival Vitol was found guilty in New York of bribing officials in Ecuador and Mexico....
...The second defendant is a group of insurers led by an arm of Bermuda-based Arch, which provided the so-called excess cover. Such policies typically kick in after the primary policies have paid out....
...Gunvor, like its privately held rivals Trafigura and Vitol, has seen profits from trading gas and power increase substantially due to increased price volatility, most recently driven by the disruption of...
...Need to know: business Vitol, the world’s largest independent commodity trader, hit net profits of $13bn in 2023, illustrating how much the privately owned group has benefited from disruption to energy...
...In contrast, the four biggest private energy traders — Vitol, Trafigura, Mercuria and Gunvor — made combined energy trading earnings last year of about $34bn....
...Vitol’s proposed £1.7bn takeover of Vivo Energy is facing opposition from one of the London-listed company’s biggest minority shareholders, which is pushing for a higher offer....
...Jeff Dellapina, chief financial officer of Vitol, the world’s largest independent energy trader, said this year would likely see “volatility compression” in commodity markets....
...Its interests now range from energy and transport to edible oils, television and sports teams....
...VTTI, which is partly owned by Vitol, is one of a handful of western companies operating storage tanks at Fujairah....
...Gunvor is one of a handful of large-scale independent commodity traders, including Trafigura, Vitol and Mercuria, that play a significant role in global energy trading, acting as middlemen and operators...
...role in global energy trading, acting as middlemen and operators of infrastructure such as terminals and refineries....
...Crossbridge Energy Partners, with the financial backing of commodity trader Vitol, is negotiating an agreement with Lukoil that would value the Sicily-based ISAB refinery at between €1bn-€1.5bn....
...Oil traders have a lower profile than energy companies such as BP and Shell, which have powerful marketing businesses that also trade Russian oil....
...Vitol, the world’s biggest independent oil trader, delivered almost 13mn tonnes of LNG last year....
...Brent crude rose by more than 50 per cent in 2021, while gas prices rallied sharply in the second half of the year amid an energy crisis in Europe....
...Trafigura had long courted Rosneft, competing with rivals Glencore and Vitol to be the biggest traders of Russian oil....
...Energy Our gut instinct remains that the US oil embargo should be good for energy traders....
...The US reimposed sanctions on Iranian energy exports after the Trump administration withdrew in 2018 from the 2015 Iran nuclear deal with world powers....
...“Formula One’s carbon footprint is over half of Bermuda’s annual emissions,” points out Greenpeace UK’s policy director, Doug Parr....
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