1/3/2024 0 Comments Vostok oil trafigura![]() Trafigura is owned by its employees and employs over 13,000 people working in 48 countries. LONDON, July 13 (Reuters) - Global commodities trader Trafigura said on Wednesday it has sold its 10 stake in Russia's major Vostok Oil project in Siberia to a Hong Kong-registered. Trafigura also owns and operates a number of industrial assets including a majority share of global multi-metals producer Nyrstar and fuel storage and distribution company Puma Energy and joint ventures Impala Terminals, a port and logistics provider, and Nala Renewables, a power and renewable energy investment and development platform. Through our Oil & Petroleum Products, Metals & Minerals, and Power & Renewables divisions, we deploy infrastructure, skills and a global network to move commodities from where they are plentiful to where they are needed most, forming strong relationships that make supply chains more efficient, secure and sustainable. It is reported that the company will offer traders stakes in Vostok Oil and future oil supply for immediate contracts. Currently, Rosneft is in talks with major oil traders such as Glencore, Vitol and Gunvor for investments in the Vostok Oil project. At the heart of global supply, Trafigura connects the world with the vital resources it needs. The deal will also allow Trafigura to offtake crude oil supply on a long-term basis. Trafigura’s Press Office: +41 (0) or to editorsįounded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. The transaction completed on 12 July 2022 for an undisclosed price. Commodities trading giant Trafigura has frozen its investments in Russia and would review its shareholding in Arctic exploration and production company Vostok Oil. Trafigura’s shareholding in Vostok Oil, including the associated non-recourse bank debt, have been acquired by Nord Axis Limited, an independent Hong Kong registered trading company. Rosneft, Energopole and Fossil Trading were not immediately available for comment.Singapore, 13 July 2022 – Following a review of options in respect of its 10 percent non-operational, passive shareholding in Vostok Oil, Trafigura has now exited its investment. It wasn’t clear, however, what was the relationship between Rosneft, Energopole and Fossil Trading at the time of the transaction with Vitol. Rosneft said earlier this year that Energopole was its wholy-owned subsidiary. Bakken oil region over the past decade.ĭubai-based Fossil Trading is the parent company of Geneva-based Energopole SA, according to the website of Energopole. ![]() passive shareholding in Vostok Oil, Trafigura has now exited its. Rosneft is leading the Vostok project that is comparable in size with the exploration of West Siberia in the 1970s or the U.S. It is the worlds largest private metals trader and second-largest oil trader having. The sale follows a divestment by rival trader Trafigura of a 10% stake in Vostok earlier this year following Western-led sanctions on Russia for its invasion of Ukraine, which Moscow calls a “special military operation”. Trafigura completes the exit of its investment in Vostok Oil Singapore, 13 July 2022 Following a review of options in respect of its 10 percent non-operational, passive shareholding in Vostok Oil, Trafigura has now exited its investment. ![]() Vitol had bought 5% of Vostok with its partner, Mercantile & Maritime Group, in 2021 for $4 billion. ![]() It didn’t disclose other details of the transaction. Trafigura has said its 10 stake in Vostok Oil is a passive shareholding in which it has no operational or managerial input. LONDON – Global commodities trader Vitol has sold its interest in a giant Russian project Vostok Oil, led by the Kremlin-controlled energy major Rosneft, to Dubai-based trader Fossil Trading, Vitol said on Friday. ![]()
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