Singapore

A consortium that consists of Swiss miner and products trader Glencore and Indonesia's PT Chandra Asri Pacific remains in sophisticated speak to buy Shell's. oil refinery and petrochemical systems in Singapore, in a. offer that could be worth about $1 billion, Bloomberg News. reported on Friday. The parties are working on the details of a deal that. could be announced as soon as the coming weeks, Bloomberg. reported, mentioning individuals with understanding of the matter. The possessions consist of a refinery capable of processing 237,000. barrels daily (bpd) of oil and a 1-million-metric-ton-per-year. ethylene plant situated on Bukom island, just...

The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Friday: ** Sony Pictures Entertainment (SPE) and Apollo Global Management have actually made a $26 billion money deal for Paramount Global, the Wall Street Journal reported. ** Britain's competitors watchdog stated that Pennon Group's. acquisition of Sutton and East Surrey (SES) Water could. hurt the water regulator's capability to make contrasts in between. water companies. ** The UK's competitors regulator launched an in-depth probe. into Lindab's acquisition of British ventilation. company HAS-Vent, after the Swedish company did not provide any. undertaking following the guard dog's initial investigation....

Zinc production at Nyrstar's Budel smelting operations in the Netherlands will resume during the week of May 13, partly because of higher prices for the metal used to galvanise steel, the company owned by product trader Trafigura said on Tuesday. The Budel smelter, with capability to produce 315,000 metric lots each year, was suspended in the 2nd half of January and will restart at reduced capacity. This decision (to reboot) follows a comprehensive and comprehensive evaluation and reflects current enhancements in market conditions and the short-term reinstatement of indirect cost compensation in the Netherlands that will help reduce Nyrstar Budel's...

Need for melted gas (LNG) to power ships will rise this year on appealing rates, while more dualfuel vessels join the international fleet, market executives said. Prices of LNG delivered as marine fuel at the world's. biggest bunker hub Singapore are at high discounts of nearly. $ 100 per metric load compared to traditional 0.5% very low. sulphur fuel oil (VLSFO), industry sources said. That is a far cry from record premiums of more than $1,000 a. ton seen in September 2023, based on data from S&P Global Platts. published on market union SEA-LNG's site, after Russia. triggered a worldwide...

Hong Kongbased shipping business Wah Kwong is finalising an offer later this month to double the number of liquefied natural gas (LNG) providers that it has actually bought to four, as it eyes growing global trade in the superchilled fuel, its chairman stated. The ships would be provided from 2027 onwards, Wah Kwong's. Executive Chairman Hing Chao told on the sidelines of. the Singapore Maritime Week ShipZERO28 event late recently. We have constantly been extremely optimistic about the outlook of. LNG as a worldwide energy, said Chao, including that a great deal of supply. will have to originate from the...

Rhone Energies, a consortium of commodity trader Trafigura and Entara LLC, remains in exclusive settlements with Exxon Mobil's ESSO SAF to acquire the FossurMer refinery in southern France and the Toulouse and Villette de Vienne terminals. Trafigura stated in a declaration on Thursday it would go into into a minimum 10-year unique petroleum supply and item offtake arrangement, consisting of ownership of petroleum and item stocks in tank. Fos-sur-Mer refinery has a crude oil processing capacity of 140,000 barrels each day. Trafigura added that Rhone Energies would continue to supply ESSO SAF in the area. The offer's conclusion is subject...

Atlantic, Gulf and Pacific (AG&P) LNG and its partners are poised to establish and run liquefied natural gas import terminals in east Indonesia, part of the country's strategies to roll out distribution and increase consumption of LNG. The business's system, AGP Indonesia Utama, shipping firm Suasa Benua Sukses (SBS) and oil and gas provider KPMOG won a. 20-year contract from PLN Energi Guide (PLN EPI) to establish,. own and run the terminals and other gas facilities in. the Sulawesi-Maluku island cluster, AG&P LNG said in a statement. on Tuesday. AG&P LNG will hold the biggest stake in the consortium, at....

The following bids, mergers, disposals and acquisitions were reported by 1950 GMT on Wednesday: ** Energy storage company VTTI will get a 70% stake in Italy's biggest melted gas (LNG) terminal with grid operator Snam owning the rest, the Milan-listed group stated, announcing a deal to be finalised by year-end. ** The principles consultant to Norway's $1.6 trillion sovereign-wealth fund is assessing whether to recommend the financier to divest its multi-billion dollar stake in mining huge Rio Tinto for ecological concerns, the Wall Street Journal reported, mentioning people familiar with the matter. ** Abu Dhabi investor Lunate stated it had...

With more ships heading around the Cape of Excellent Hope due to attacks in the Red Sea region and a shutdown in their main South African bunkering operations, Mercuria and Trafigura have started refuelling services in Mauritius, four sources stated. The two trading homes have opened operations in Port Louis to make up for the shutdown at South Africa's Algoa Bay which originates from a tax conflict with authorities, sources knowledgeable about the matter informed . Algoa Bay is South Africa's only offshore ship-to-ship bunkering zone where tankers service passing ships at anchorage. South African tax authorities (SARS) have detained...

The following quotes, mergers, disposals and acquisitions were reported by 0930 GMT on Wednesday: ** Australia's PSC Insurance coverage will be acquired by Ardonagh Group in an offer valuing its equity at A$ 2.26 billion ($ 1.51 billion), PSC stated, helping the UK-based insurance coverage circulation platform broaden its footprint in the area. ** The European Commission is because of rule on June 12 on whether to approve the European Energy Exchange's (EEX) planned acquisition of Nasdaq's European power trading and clearing organization, according to a regulative filing. ** Japan's SoftBank Group is in talks to buy expert system (AI)...

Singapore's. Temasek Holdings has shortlisted energy giants Shell and Saudi. Aramco among a handful of business to purchase the majority of the. properties of liquefied gas (LNG) trading company Pavilion. Energy, sources with understanding of the matter said. The sale procedure comes a years after the state investment. firm set up Pavilion Energy to concentrate on LNG-related investments,. and occurs as area Asian LNG prices have actually fallen. more than 40% since mid-August, potentially weighing on the. offer's evaluation. Temasek is assessing quotes for the sale of Structure Energy's. assets, excluding its gas pipeline company, one of the sources. said,...

Singapore's. Temasek Holdings has shortlisted energy giants Shell and Saudi. Aramco amongst a handful of companies to acquire the majority of the. assets of melted natural gas (LNG) trading firm Pavilion. Energy, sources with knowledge of the matter said. The sale procedure comes a years after the state investment. company established Structure Energy to focus on LNG-related financial investments,. and happens as area Asian LNG prices have fallen. more than 40% since mid-August, possibly weighing on the. deal's evaluation. Temasek is examining quotes for the sale of Structure Energy's. assets, excluding its gas pipeline organization, among the sources. stated, including...

Commodity traders Trafigura and IXM are looking to purchase physical copper to provide versus large short positions on U.S. exchange CME where copper prices soared to tape-record highs on Wednesday, five sources with direct knowledge of the matter said. Brief positions can be bets on lower rates or manufacturers hedging their output. A short capture takes place when celebrations holding such positions are forced to buy them back at a loss or deliver physical copper to close them out. Copper costs on COMEX, part of the CME Group, strike a record peak of $5.1775 a pound or $11,414 a metric...

Deliveries of raw sugar on the expiration of the May agreement on ICE exchange were seen at 32,914 lots, or around 1.67 million metric lots, the fourth biggest on record, according to initial details from three sugar traders on Tuesday. Singapore-based products trader Wilmar International was said to be the largest deliverer of the sugar with 29,727 lots, or around 1.51 million heaps. Products trader Louis Dreyfus was stated to be the main receiver with 19,127 lots, or around 971,000 lots, the traders said. ICE will launch main information on the shipment on Wednesday. A large shipment is typically seen...

Tata Sons, the holding business of India's Tata Group, has actually increased its stake in satellite TV supplier Tata Play to 70% by buying a 10% stake from Singapore state investment company Temasek for about $100 million, the Economic Times reported on Tuesday. Tata Play has informed the Ministry of Details and Broadcasting about the change in shareholding, abiding by regulations governing direct-to-home ( DTH) business, according to the report, which pointed out individuals knowledgeable about the matter. With Temasek's exit, Tata Play will run as a 70:30 joint endeavor in between Tata and Walt Disney, the latter inheriting its...

Lawyers for entrepreneur Prateek Gupta, accused of scams by commodity trader Trafigura, told a London court on Tuesday he has actually run out of funds to pay legal charges and wants to work out a settlement. Geneva-based Trafigura filed a suit versus Gupta in February last year, declaring seven companies that Trafigura stated are managed by him performed methodical fraud involving what were supposed to be nickel cargoes. Trafigura scheduled a problems last year of $590 million due to the supposed fraud. They are having problems ... in moneying the remainder of the litigation, lawyer Barnaby Lowe informed the London...

Singapore's middle ditstillates stocks fell for the very first time in 3 weeks, tracking the gains in net exports of diesel/gasoil, authorities government data revealed on Thursday. Stocks of diesel/gasoil and jet fuel/kerosene at crucial oil storage hub Singapore declined to 10.136 million barrels from 11.208 million barrels in the previous week, figures from Enterprise Singapore showed. The drop came as net exports of diesel/gasoil increased by a little more than 68% week on week, with total exports of the fuel getting at a quicker pace than overall imports. Total imports climed by around 39%, while overall exports rose by...

Jeremy Weir, longtime chief executive at commodities trader Trafigura, is priming successor Richard Holtum to take control of when he decides to step back into a chairman role, five sources knowledgeable about the matter said. Trafigura has yet to announce an official transition or a. timeline for the change however management reshuffles and the. retirements announced recently of 2 executives have paved the. way for a brand-new generation of leadership. Holtum, the business's international head of gas, power and. renewables, has actually signed up with Weir in meetings with top customers and. banks in current weeks, sources stated, a first...

2 senior executives at international product trader Trafigura will retire this year, the business said on Friday, clearing the way for a brand-new generation of management in the current reshuffle at the firm. In September in 2015, the Geneva-based firm lost weight its management by consolidating department leadership. Ben Luckock ended up being the sole head of oil, Gonzalo De Olazaval the sole head of metals and minerals while Richard Holtum included renewables and power to his portfolio. Trafigura stated its CFO Christophe Salmon would retire at the end of June after 12 years at the firm and executive director...

Legal representatives for entrepreneur Prateek Gupta, implicated of scams by commodity trader Trafigura, told a London court on Tuesday he has lacked funds to pay legal charges and wants to work out a settlement. Geneva-based Trafigura filed a claim against Gupta in February last year, declaring 7 companies that Trafigura stated are controlled by him performed methodical scams including what were supposed to be nickel freights. Trafigura reserved a disability last year of $590 million due to the supposed scams. They are having difficulties ... in moneying the remainder of the lawsuits, lawyer Barnaby Lowe told the London Commercial Court...

While Chandra Asra's offer to buy Shell's Singapore refinery will see it join the ranks of Southeast Asia's largest petrochemicals players, it is handling the danger of running an aging facility in an extremely competitive sector. In taking control of Shell's Bukom facility, which dates to 1961, Indonesia's Chandra Asri Pacific will get a property that is less effective than more modern-day plants however which gives it a second naphtha cracker, broadens its product portfolio, and renders unnecessary strategies to develop a greenfield complex in its home country, experts and industry insiders stated. Owning a refinery for the first time...

Worldwide product trader Trafigura has consented to buy more of UKbased biodiesel firm Greenergy, increasing its position in renewable energy after revealing plans to obtain the company's European service approximately two months ago. Major commodities traders are still attempting to determine where to invest their record revenues from the last couple of years. With no clear winner or money-maker in the renewables race, they are spreading their investments throughout a huge selection of technologies - from hydrogen and ammonia to geothermal, biomethane and solar - to get their foot in the door of whichever takes off. Trafigura on Wednesday broadened...

Shell said on Wednesday it has actually agreed to offer its refinery and petrochemical possessions in Singapore, Asia's main oil center, to a joint venture in between Indonesian chemicals firm Chandra Asri and Swiss miner and products trader Glencore. reported last August that Shell had worked with Goldman Sachs to check out a prospective sale of its refining and petrochemical plants in Singapore as part of a wider tactical evaluation internationally to end up being a lower-carbon operator. The sale belongs to Shell CEO Wael Sawan's strategy to reduce the company's carbon footprint and focus its operations on the most...

Promoting the Singapore Airshow on Sunday, the organiser of the event was asked what would be various about this year's aviation and defence jamboree. Sustainability, sustainability, sustainability, he responded. The sound bite from Leck Chet Lam, managing director of the occasions service Experia, was a precursor to 3 days loaded with green-focused panels and statements, often accompanied by the tagline sustainable aerospace together. Regardless of the public-facing united front, the air show has exposed deep divides over how the industry can achieve its objective of net absolutely no carbon emissions by 2050. Airline company bosses, green fuel manufacturers and makers...