Archie Hunter
Commodities Trading Reporter at Bloomberg News
Reporting on commodity trading of all stripes 🛢🌾⛏ for @business l Message me on Threema: H3X67A3K
Articles
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1 week ago |
bloomberg.com | Alberto Brambilla |Archie Hunter |Jack Farchy
The ISAB refinery near Syracuse, Sicily. (Bloomberg) -- The main investor in Italy’s biggest oil refinery is sounding out trading firms to replace Trafigura Group as the plant’s supply partner. Greek shipping billionaire George Economou, the main investor in a fund that controls the owner of ISAB Srl, is exploring potential tie-ups with alternative oil traders, according to people familiar with the matter, who asked not to be named because the talks are private.
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2 weeks ago |
financialpost.com | Archie Hunter |Jack Farchy
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2 weeks ago |
bloomberg.com | Archie Hunter |Jack Farchy
Commodity giant Vitol Group generated earnings of over $8 billion in 2024, according to people familiar with the matter, cementing its position as by far the most profitable energy trading house. Full-year earnings fell from $13.2 billion in 2023, but were still sharply higher than Vitol’s profit until 2022, when Russia’s full-scale invasion of Ukraine spurred sharp price spikes that fueled record returns across the commodity trading industry.
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3 weeks ago |
rigzone.com | Archie Hunter
Commodity trader Gunvor Group posted a 42% drop in profit in 2024, as the energy-market volatility that drove mega earnings in previous years declined. Net profit fell to $729 million last year, while revenues grew due to higher volumes of physically traded crude and refined oil products, the trading house said in a statement on Tuesday. Though full-year earnings were the fourth best in Gunvor’s history, second-half profit was the lowest since 2020.
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3 weeks ago |
bloomberg.com | Jack Farchy |Archie Hunter |Ruth Liao
Commodity trader Gunvor Group purchased a significant minority stake in US shale gas producer Flywheel Energy LLC, part of a wave of trading houses moving into upstream oil and gas supply. Gunvor said in its 2024 annual report that it had bought a 41.67% stake in FW Energy Holdings LLC in June last year, giving it the marketing rights to about 500 million cubic feet of natural gas a day.
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