France’s TotalEnergies and Bahrain’s state-owned Bapco Energies have officially launched BxT Trading, a 50/50 trading joint venture backed by production flows from Bapco Energies’ refinery. The new entity is positioned as a competitive regional trading player, designed to maximize downstream value and broaden access to international markets for Bahraini oil products. The signing ceremony took place in Abu Dhabi and was attended by senior leadership from both sides, including Shaikh Nasser bin Hamad Al Kh ...

The UK sanctioned oil trading tycoon Murtaza Lakhani, part of a new package targeting Russia over its war against Ukraine https://t.co/QrVmg0nhr1 ...

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Torbjörn Törnqvist is selling his stake in Gunvor after renewed scrutiny of the firm's Russia ties. ...

Torbjörn Törnqvist co-founded trading house Gunvor with a Russian oligarch and close ally of Putin - Walaa Alshaer/Bloomberg A Swiss billionaire has sold his multibillion-pound stake in the trading house he co-founded after the US accused him of being a Russian “puppet”. Torbjörn Törnqvist has agreed to sell his entire 86pc shareholding in Geneva-based Gunvor, estimated to be worth $6.6bn (£5bn) overall, to a group of employees led by the company’s management. His decision, which also means he will leav ...

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Core Viewpoint - China's state oil trader Unipec, a subsidiary of Sinopec Corp, has secured a long-term agreement to supply approximately 60,000 metric tons of jet fuel to Lufthansa each year [1] Company Summary - Unipec, as a vehicle of Sinopec Corp, is expanding its operations in the aviation fuel sector through this new supply agreement with Lufthansa [1] - The deal signifies a strategic partnership between Unipec and Lufthansa, enhancing Sinopec's presence in the international aviation fuel market [1] Industry Summary - The agreement reflects the growing demand for jet fuel in the aviation industry, particularly as airlines like Lufthansa seek reliable suppliers [1] - This move may indicate a trend of increased collaboration between oil traders and airlines to secure fuel supply amidst fluctuating market conditions [1]

Core Insights - U.S. sanctions are significantly impacting Lukoil's Litasco, which was once the largest oil trader in Russia and a competitor to leading Swiss firms and major oil companies [1] Company Impact - Litasco, previously a dominant player in the oil trading sector, is facing dismantlement due to the enforcement of U.S. sanctions [1] Industry Context - The sanctions are reshaping the competitive landscape of the oil trading industry, particularly affecting Russian entities like Litasco that were once key competitors to established global firms [1]

Core Points - Delixy Holdings Limited successfully closed its initial public offering (IPO) of 2,000,000 ordinary shares at a public offering price of US$4.00 per share, raising total gross proceeds of US$8 million [1][3] - The ordinary shares began trading on the Nasdaq Capital Market under the ticker symbol "DLXY" on July 9, 2025 [2] - Proceeds from the offering will be utilized for expanding product offerings, strengthening market position, potential strategic acquisitions, and general working capital [4] Company Overview - Delixy Holdings Limited is a Singapore-based company engaged in trading oil-related products, including crude oil and various oil-based products such as fuel oils, motor gasoline, and petrochemicals [8] - The company operates across Southeast Asia, East Asia, and the Middle East, establishing a strong presence in the region's oil trading markets [8] - Delixy leverages strong relationships with customers and suppliers, providing value-added services and financing capabilities to enhance its trading operations [8]

Group 1 - Delixy Holdings Limited, a Singapore-based company, is engaged in the trading of oil-related products and has announced an initial public offering (IPO) of 2,000,000 ordinary shares at a public offering price of US$4.00 per share [1] - The company expects to receive gross proceeds of US$5.4 million from the offering, which will be used for expanding product offerings, strengthening market position, making strategic acquisitions, and general working capital [2] - The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on July 9, 2025, under the ticker symbol "DLXY" [1] Group 2 - Delixy Holdings Limited primarily trades in crude oil and oil-based products, including fuel oils, motor gasoline, additives, gas condensate, base oils, asphalt, petrochemicals, and naphtha [6] - The company operates across multiple countries in Southeast Asia, East Asia, and the Middle East, establishing a strong presence in the region's oil trading markets [6] - Delixy leverages strong relationships with customers and suppliers, providing value-added services such as tailored trading strategies and logistical support [6]