Henri Moore’s Post

Leading the charge is Mercuria where Kostas Bintas, previously at rival Trafigura, has been on a hiring spree across Asia, Africa, North America, Europe and Latin America since joining as global head of metals and minerals in July, three sources with direct knowledge said. Bintas' team already comprises more than 40 people, they added. "Kostas hit the ground running, the team has grown very quickly," another of the sources said. #mercuria #metals #energy #transition

Richard Holtum will take over as chief executive of global trading house Trafigura from Jan. 1 next year, the company said on Tuesday. Holtum will take over the helm at a time when trading firms are set to see reduced profits following windfall years after the COVID-19 pandemic, while sharp equity growth in recent years will also mean hefty expenses in paying out departing shareholders. Holtum's former role as global head of gas, power and renewables will pass to current head of power trading, Igor Marin. #trafigura #ceo #commodities #trading

German utility RWE AG has been identified as the buyer of US liquefied natural gas that will come from an LNG facility being planned for south Texas, according to people familiar with the matter. Developer Glenfarne Group LLC said on Sept. 11 it struck a preliminary deal to supply chilled fuel from its yet-to-be-built Texas LNG project to a company it didn’t disclose. Glenfarne hasn’t made a final investment decision on its Brownsville project, though it aims to have the facility operating by 2028. #rwe #glenfarne #lng #project

Commodities giant Glencore has signed a non-binding agreement to buy 2 million tonnes per annum of liquefied natural gas from Commonwealth LNG along with equivalent natural gas supply from Kimmeridge Texas Gas, the companies said on Thursday. The 20-year supply agreement is expected to be finalized among all parties by the fourth quarter. #glencore #commonwealth #lng #energy #trading

Swiss commodities giant Trafigura is increasing the length of time staff have to work out their notice after a string of departures. Reuters cited multiple sources as saying contracts will have a minimum notice period of six months, while the maximum could be a year. The date of the change is not known, but the report said the new rules apply to existing workers and new recruits, depending on their seniority in the group. #trafigura #commodity #trader

Egypt has bought 20 cargoes of liquefied natural gas (LNG) via the first tender issued to cover its winter demand since 2018, securing full volumes it was seeking at smaller than expected premiums, trading sources told Reuters on Friday. The deals are for 17 cargoes to be delivered between Oct. 4 and Nov. 29 to Egypt's floating terminal in the Red Sea port of Ain Sukhna and three cargoes to Aqaba port in Jordan. TotalEnergies, Shell , BP and commodities traders Glencore and Gunvor won most of the cargoes. Saudi Aramco won a few cargoes, as did smaller commodities trader Hartree. #lng #egypt #bp #shell #totalenergies #glencore #gunvor #aramco #hartree

Global energy trader Vitol has agreed to acquire Hong Kong-based Noble Resources Trading Ltd, the company said in a statement on Friday, in a deal intended to expand its coal trading business. The deal is expected to close before the end of this year for $0.63 per share, or $208.9 million. Newly acquired Noble will initially be run as a standalone entity. #vitol #nobleresources

Australia's Woodside Energy said on Monday it had agreed to buy U.S. liquefied natural gas developer Tellurian opens including its U.S. Gulf Coast Driftwood LNG export project, for $1.2 billion including debt. #lng #woodside #tellurian