US EPA anticipates finalizing biofuel regulations in the first quarter of 2026
The U.S. Environmental Protection Agency is expected to finalize the 2026 and 2027 mandates for biofuel blends in 2026, 2027, and 2028, which were originally expected to be finalized in late October or in the first quarter of next year. The Trump administration has pushed one of its most important energy policies into 2026. Companies say that without clarity on quotas they are forced hold back on deals, and to delay spending decisions which shape output and margins. Sources familiar with the issue said that the decision was likely to spill over into next year.
Sources say that the Trump administration is unlikely to finalize biofuel quotas for 2026 this year.
Three sources familiar with the matter say that the Trump administration will not finalize the 2026 biofuel blending quotas by the end of the year. This extends the uncertainty over a policy closely monitored by rival oil and agriculture sectors. The White House's biofuels policy is being impacted by a number of decisions that are interconnected. The moves together have led to expectations that the administration will look for a wider - but elusive – agreement between rival oil interests and agricultural ones. Two sources said that the Environmental Protection Agency (EPA)…
UK court lifts BB Energy’s injunction to allow the sale of South Sudan oil cargo
The London High Court lifted on Thursday an injunction that prevented the sale of a South Sudanese oil cargo scheduled to load within the next few days. This was after the claimant BB Energy decided to not ask to continue the injunction. BB Energy has said that it will pursue legal action against South Sudan for its alleged failure of delivering oil BB had paid $142m in prepayment agreements spanning 2024-2025. If the country does not resume deliveries and payments promptly, BB Energy will take further legal action. BB Energy representatives…
UK court lifts BB Energy’s injunction to allow the sale of South Sudan oil cargo
The London High Court lifted on Thursday an injunction that prevented the sale of a South Sudanese oil cargo scheduled to be loaded in the next few days. This was after BB Energy, the commodities trader who filed the case, decided to not ask to continue the injunction. BB Energy has said that it will continue to take legal action against South Sudan for its alleged failure in delivering oil BB had paid $142 millions to South Sudan under prepayment agreements spanning 2024-2025. BB Energy representatives refused to request an extension…
US sanctions threaten to disrupt Lukoil's international assets
The sale of Lukoil's overseas assets to Swiss commodity traders Gunvor has been blocked by Washington, which is a result of U.S. sanctions. Lukoil has a global footprint that includes upstream oil and natural gas projects, refineries, and fuel distribution networks in Europe, Central Asia and the Middle East. The company produces a half-million barrels of crude oil per day, 0.5% of the global oil production, outside of Russia in countries like Iraq, Kazakhstan, and Azerbaijan. Here are some details on its international assets. Lukoil holds 75% of Iraq's West Qurna 2 Oilfield, which produces 480,000 barrels per day, making it one of the largest oilfields in the world.
Energy Traders Steer Shipping Toward Greener Horizons
The maritime industry is charting a new course toward decarbonization, yet this time round it is not only traditional shipowners at the helm. Major energy and commodity traders, whose shipping operations often carry large carbon footprints, are now investing in cleaner and more efficient shipping. With the International Maritime Organization (IMO) calling for a 40% reduction in shipping’s carbon intensity by 2030 from 2008 levels, these players are now deploying new methods to cut emissions at sea. Retrofitting old vessels or even order state-of-the-art tankers with clean fuel capacity…
Trafigura reports slight increase in net profit for the first half, but lower revenue
Trafigura, a global commodity trading company, reported Thursday that it's net profit increased slightly from the previous year to $1.52 billion for the first half 2025 of its financial year. However its revenues decreased due to lower average commodity prices. The net profit of the unlisted company was up by 3% compared to the first half in 2024. This stabilised after the sharp decline in the 2024 full year results when the company found a $1.1billion fraud in Mongolia, and major trading houses adjusted for the end of a record earning period in 2022-2023.
Spot prices remain unchanged as sunny and still weather is expected on Monday
German and French spot price were not traded on Friday morning. A surge in solar energy supply on Monday, and a lower demand because of higher temperatures was expected to offset an expected fall in wind supply. This would put pressure on prices. LSEG data shows that the German and French baseload power prices for Monday were not traded by 0946 GMT. According to LSEG analyst Naser Hachemi, higher renewable production at the weekend will compensate for a week-on-week increase. Prices are expected to reach zero or near-zero in the middle hours of the day because of high solar production.
Sources say that commodity traders will submit bids by May for Italy's IP.
Two sources confirmed on Thursday that global commodity traders Glencore and Gunvor were considering the possibility of buying oil refiner Italiana Petroli API group. State Oil Company of Azerbaijan is also interested in the asset, two sources with knowledge of the transaction said. Glencore, Gunvor, and IP have declined to comment. SOCAR did not respond to a request for comment. IP, owned by Brachetti Peretti, an Italian family, has a refining capacity totaling around 200,000 barrels a day. It also owns a network consisting of 4,600 fuel station.
Sources say that commodity traders are expected to bid for Italy's IP in May.
Two sources confirmed on Thursday that global commodity traders Glencore and Gunvor were considering the possibility of buying oil refiner Italiana Petroli API group. State Oil Company of Azerbaijan is also interested in the asset, two sources with knowledge of the transaction said. Glencore and Gunvor have declined to comment. SOCAR and IP did not respond to requests for comment. IP, which UniCredit advises on the possible sale, is owned and operated by the Italian Brachetti Peretti family. It has a total refinery capacity of about 200,000 barrels a day. It also owns a network consisting of 4,600 fuel station.
Energy assets affected due to sanctions and standoff between Russia and the West
On Tuesday, the United States and Russia reached separate agreements to stop attacks on energy and maritime targets. Washington also agreed to press for the lifting of some sanctions against Moscow. In the event that a peace agreement is reached between Russia and Ukraine, the potential for a relaxation of U.S. sanctions and EU sanctions has led to the question of what will happen to the disputed assets which were affected by international sanctions. This includes both Russian assets located in Europe as well as assets owned by foreign companies in Russia. The main source of revenue for Moscow is oil and gas exports.
Sources confirm that Egypt has awarded the tender for 20 LNG winter cargoes to Egypt.
Four trading sources said on Friday that Egypt's recent bid for 20 cargoes (cartons) of liquefied gas to cover winter demand following a sharp decline in domestic production has been fully allocated. It is the first time Egypt issued an tender to cover the winter demand since 2018. This year, the most populous Arab nation has become a net gas importer. It has purchased more than 50 cargos and abandoned plans to be a reliable European supplier. The tender was issued on September 12 by the Egyptian General Petroleum Corporation and covered the demand for the 4th quarter of 2024. It was awarded with a deferred-payment basis lasting six months.
Mercuria Teams Up with Envysion for Project Investment
Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management have agreed to co-invest in mining and energy projects, as default-hit banks tighten their purse strings and leave commodities firms seeking other funding.The deal, signed on Wednesday, will see Mercuria present potential projects for investment to Envysion, founded and led by former Julius Baer banker Veronica Shim. Envysion will then decide whether to participate via a fund with a start-up amount of $100 million to $200 million.Such tie-ups between companies…
Oil Traders Bet on Economic Upswing in 2020
Crude oil traders are betting the market will tighten significantly next year, even as the major statistical agencies predict production will outstrip consumption and oil inventories will rise.Most of the divergence can be explained by differing assumptions about global growth in 2020.The International Energy Agency (IEA), the U.S. Energy Information Administration (EIA) and the Organization of the Petroleum Exporting Countries are all projecting that the oil market will be in surplus in 2020.Each of the three agencies is forecasting that…
Swiss, Brazil Try to Unravel Petrobras Affair
Crimefighters in Switzerland and Brazil pledged to intensify cooperation to resolve the sprawling corruption case linked to state oil firm Petrobras in which around 700 million Swiss francs ($701 million) remain frozen in Switzerland.Switzerland has so far returned roughly 365 million Swiss francs ($365.6 million) to Brazil related to Petrobras and construction firm Odebrecht, the Swiss Office of the Attorney General (OAG) said on Tuesday, including 9 million francs in March.Around 70 related criminal proceedings are under way in Switzerland…
GasLog: LNG Demand Grew 9% in 2018
Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018, said GasLog.The Monaco-based owner, operator and manager of LNG carriers said in a stock exchange announcement that China’s LNG imports increased by approximately 16 mtpa, or 41%, to 54 mtpa in 2018, driven mainly by continued coal-to-gas switching in the industrial, commercial and residential sectors.South Korea, Pakistan, Thailand and Mexico also experienced strong growth in LNG imports during 2018. The outlook remains robust…
Oil Prices Surge After OPEC Rebuffs Trump
Oil prices jumped more than 2 percent to a four-year high on Monday after Saudi Arabia and Russia ruled out any immediate increase in production despite calls by U.S. President Donald Trump for action to raise global supply.The Organization of the Petroleum Exporting Countries and non-OPEC states, including top producer Russia, gathered in Algiers on Sunday for a meeting that ended with no formal recommendation for any additional supply boost to counter falling supply from Iran."The market's still being driven by concerns about Iranian and Venezuelan supply," said Gene McGillian, director of market research at Tradition Energy in Stamford.
Bangladesh Drops Trafigura in LNG Talks as Gunvor Advances
Bangladesh has terminated talks with Swiss-based commodity trader Trafigura to install a small floating liquefied natural gas (LNG ) import terminal due to delays in agreeing terms, while rival trader Gunvor advances with a separate project. Once considered an energy backwater, Bangladesh's LNG demand is set to hit 17.5 million tonnes annually by 2025 after importing its first cargo last month, and as traders target Southeast Asia's booming gas markets to boost sales. Swiss-based commodity traders Trafigura, Vitol and Gunvor were all pursuing LNG import projects in Bangladesh…
Fundamentalists Complain About New Generation of Commodity Speculators
Traditional commodity traders are lamenting the rise of a new generation of hedge funds who show little interest in the fundamentals of conventional supply and demand analysis. The newcomers are blamed for distorting prices, making markets impossible to trade, and forcing the closure of some long-established specialist commodity funds. The target of this criticism is not always well-specified: it variously includes high-frequency computer-driven traders, momentum-chasing hedge funds and macro funds dabbling in energy markets. But the newcomers are operating on a scale never seen before in energy markets…
Vitol, Nigeria's Shoreline in $350 Million Oilfield Deal
European trading house Vitol has reached a $530 million deal with Nigeria's Shoreline to finance an oilfield in exchange for access to some of the 50,000 barrels per day (bpd) of oil it produces, the Nigerian company said on Thursday. Vitol has done other pre-financing deals for preferential access to oil and refined products in Kazakhstan, Iran and elsewhere. The agreement with Shoreline, finalised on Thursday, will provide the company with cash to refinance existing debt and further develop OML 30 in Nigeria's oil-rich Delta region. The field currently produces 50,000 bpd and has an estimated 1 billion barrels of oil reserves.