James Noel-Beswick’s Post

NOCs in the Middle East have been setting up their own trading operations in the past decade, after solely being focused on getting crude out of the ground, FGE's Dr Iman Nasseri told S&P Global Commodity Insights in a recent interview. "We're seeing more and more trading companies dealing with the products of the NOC refineries popping up in this region and taking a more active role in the optimization of those projects," he said. Read the full article here: https://lnkd.in/eqVWaiED #oil #OOTT #MiddleEast #Refining

Read comments from FGE #MiddleEast MD, Dr Iman Nasseri, on the refining landscape and NOCs' roles in the Middle East refining and oil trade business at the #MPGC2024 conference.

Just 2 weeks to go until the inaugural S&P Global Commodity Insights 𝗜𝘀𝘁𝗮𝗻𝗯𝘂𝗹 𝗘𝗻𝗲𝗿𝗴𝘆 𝗙𝗼𝗿𝘂𝗺 takes place on Wednesday, 𝗠𝗮𝘆 𝟴, 𝟮𝟬𝟮𝟰. 𝗧𝗼𝗽𝗶𝗰𝘀 𝗰𝗼𝘃𝗲𝗿𝗲𝗱 𝗮𝘁 𝘁𝗵𝗲 𝗳𝗼𝗿𝘂𝗺 𝘄𝗶𝗹𝗹 𝗶𝗻𝗰𝗹𝘂𝗱𝗲: - Insights into the outlook for oil and #RefinedProducts - Gain an update on #Platts crude and refined product benchmarks - A market update on #petrochemical trends - #Carbon pricing and impact of CBAM on the region - The opportunity to ask your questions to our experts 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗵𝗲𝗿𝗲: https://okt.to/hPDTvk #oilindustry #energymarkets

Trading houses move into Europe's refining scene Europe’s shrinking refining sector continues to evolve as integrated oil companies downsize while traders and independents strap in for further volatility and the clean fuels transition. Cash-flushed trading houses in particular have been on a buying spree for Europe’s refineries in recent months. In April, Trafigura confirmed it was in exclusive negotiations with ExxonMobil to acquire the Fos-sur-Mer refinery in the south of France, acting through joint venture Rhone Energies. In March, Vitol snagged a controlling stake in Italy’s Saras, the Mediterranean’s largest single-site refinery, while German ownership changes abound. Based on existing ownership and announced deals in 2024, Trafigura, Vitol and Gunvor amassed stakes in up to 1.12 million b/d of Western European refining capacity, stepping into the sector after decades of having little to no presence. While Glencore and Mercuria have yet to be drawn, Glencore’s recent acquisition of Shell’s Singapore refinery in May also suggests a greater willingness to pick up refining assets and a pivot from a previous capital-light approach. Similarly, small and independent producers and refiners have gradually expanded in the space, growing their presence in Western Europe around 13% between 2000 to 2024 and now operating around 30% of its capacity. #gunvor #glencore #vitol #trafigura #mercuria #refinery #europe Check the infographics from link below https://lnkd.in/gAtVr3C6

Last week, the US Federal reserve cut interest rates by 50 basis points (0.5%). This change is already impacting markets globally and may have further repercussions as the year unfolds In this weeks newsletter, we explore the feds rate cut as well as the Nigerian governments exploration of lower petrol prices using the Dangote Petroleum & Petrochemicals refined petroleum products https://lnkd.in/ePfGb_zP

🚀🌐 Which petroleum company is dominating the market? Check out this comprehensive overview of the market cap of leading petroleum stocks. 📈💼 #Reliance #ONGC #IOCL #GAIL #OIL #BPCL #HPCL #PLL #MPRL #GES #StockMarketIndia #Shares #MarketPrice #MarketCap #trading #EnergySector #PetroleumInvestments #MarketTrends #StockMarketUpdate #FinanceGeek #InvestorLife

Commodities traders flush with cash are buying oil refineries that energy majors are increasingly turning their back on. It’s one of the areas where trading houses — who have long coveted the refining and distribution assets that help drive oil majors’ mega trading earnings — are investing huge returns from the most profitable period in their histories. Owning those assets offers a chance to have more options when making trades, greater exposure to physical and paper markets and better insight into fuel supplies. The sites are coming up for sale as Big Oil faces shareholder pressure to trim portfolios to focus on assets with the best returns, while also offloading or cleaning up major polluting businesses like refineries. There are numerous examples of late. Bloomberg last month reported that trading giant Vitol Group bid for assets of US refiner Citgo Petroleum Corp., following a two-year deal spree in which it invested in Italian refiner Saras SpA and fuel stations in Turkey and South Africa. At the same time, Glencore Plc is part of a venture that agreed to buy Shell Plc’s Bukom refinery in Singapore, while a consortium including Trafigura Group is in exclusive talks to buy France’s Fos-sur-Mer refinery. “Recent sales have largely gone to private equity, but increasingly traders are coming in” to investment in refineries, said Liz Martin, an adviser at Energex Partners and a former BP Plc trader.Gaining a foothold in the refining industry gives traders more options when deciding whether to send certain oil grades to their own refinery or elsewhere, such as in the open market — depending on what makes more money. “The traders see an opportunity to end up with a plant that can run a slew of different crude oils,” said Kurt Chapman, a board member of trader Levmet and former head of crude at Mercuria Energy Group Ltd. The refineries traders have recently bought into are typically located in major trading hubs like the Mediterranean Sea and Singapore Strait, which makes them accessible for delivering a wide range of crude types. The deals have generally been for stakes or as part of consortiums, rather than outright acquisitions on their own, as traders tend to be most interested in obtaining crude procurement rights for these plants. Blockbuster profits have given commodity traders the cash to invest in assets like refineries, as well as build out metals and agriculture teams. But another key aspect of the refinery push is simply availability. Plants around the world are coming up for sale — and at knockdown prices. Despite good margins, companies like BP, TotalEnergies SE, Shell and Exxon Mobil Corp. have been letting go of assets that they no longer consider a core part of their business. Oil majors are also under pressure from institutional investors to cut emissions. One option is to spend money upgrading refineries to become more efficient or make greener fuels. Another is to just offload them altogether.

Just 2 weeks to go until the inaugural S&P Global Commodity Insights 𝗜𝘀𝘁𝗮𝗻𝗯𝘂𝗹 𝗘𝗻𝗲𝗿𝗴𝘆 𝗙𝗼𝗿𝘂𝗺 takes place on Wednesday, 𝗠𝗮𝘆 𝟴, 𝟮𝟬𝟮𝟰. 𝗧𝗼𝗽𝗶𝗰𝘀 𝗰𝗼𝘃𝗲𝗿𝗲𝗱 𝗮𝘁 𝘁𝗵𝗲 𝗳𝗼𝗿𝘂𝗺 𝘄𝗶𝗹𝗹 𝗶𝗻𝗰𝗹𝘂𝗱𝗲: - Insights into the outlook for oil and #RefinedProducts - Gain an update on #Platts crude and refined product benchmarks - A market update on #petrochemical trends - #Carbon pricing and impact of CBAM on the region - The opportunity to ask your questions to our experts 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗵𝗲𝗿𝗲: https://okt.to/JUyABP #oilindustry #energymarkets

In the last couple of years, European refiners saw profits rise, as demand recovered from Covid lows and sanctions curtailed Russian diesel supplies. This boost happened even when Middle East and Asia increased substantially their processing capacity and carbon levies started to impact European operations. However, this year’s decline in European refining margins has sparked renewed discussions about potential capacity cuts. A wave of fuel imports coincides with decreasing internal demand (as EV penetration continues to grow slowly), and traditional export markets like Nigeria progressively shutting out Europe's excess supply. Bloomberg explains this well: Europe’s Refinery Cutbacks Show a Fading Industry

Commodities traders flush with cash are buying oil #refineries that energy majors are increasingly turning their back on. Owning those assets offers a chance to have more options when making trades, greater exposure to physical and paper markets and better insight into #fuel supplies. The sites are coming up for sale as Big Oil faces shareholder pressure to trim portfolios to focus on assets with the best returns, while also offloading or cleaning up major polluting businesses like refineries. The refineries #traders have recently bought into are typically located in major trading hubs like the Mediterranean Sea and Singapore Strait, which makes them accessible for delivering a wide range of crude types. The deals have generally been for stakes or as part of consortiums, rather than outright acquisitions on their own, as traders tend to be most interested in obtaining crude procurement rights for these plants. #crudeoil #refinery #downstream #energy #commoditytrading #commodities #trading #oil #margin https://lnkd.in/gZ_7mK5D