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Russell Hardy - 1 Hardy - 1 Vitol - 1
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SINGAPORE Singapore Hong Kong Mercuria
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Vitol - 1 Financial Times Commodities - 1 Noble Resources - 1

Search resuls for: "Financial Times Commodities"


3 mentions found


☆ Top trader Vitol eyeing metals market as global oil demand set to peak in 10 years, CEO signals
  + stars: | 2024-11-08 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com   time to read: +1 min
SINGAPORE — Vitol is eyeing the metals market with global petroleum demand expected to peak in a decade, signaled Russell Hardy, CEO of Vitol, the world's largest independent energy trader. In contrast to the eventual decline of the crude industry, metals business is going to witness a "great deal of growth through the electrification phase," he added. "So we quite like the idea of being involved in the bigger metal markets. And the three bigger metal markets are steel and iron ore, copper and aluminum," he said. In August, Vitol announced its acquisition of Noble Resources, a Hong Kong-based trader specializing in oil, coal and metallurgical coke, which is used to make iron.
Persons: Russell Hardy, Hardy, Vitol Organizations: Vitol, Financial Times Commodities, Noble Resources, Reuters Locations: SINGAPORE, Singapore, Hong Kong, Mercuria
☆ Exclusive: Gunvor to expand in United States after strong profits - CEO
  + stars: | 2023-03-22 | by ( Julia Payne | ) www.reuters.com   time to read: +3 min
REUTERS/Dado Ruvic/Illustration/File PhotoSummarySummary Companies Gunvor on hiring kick, to expand in U.S. power, oil and LNGCEO says Europe only covered half of missing Russian gasCEO has been in dialogue with ADNOCLAUSANNE, Switzerland, March 21 (Reuters) - Energy trader Gunvor made strong profits last year and is looking to expand its oil trading and develop a significant power trading arm in the United States, its CEO told Reuters. Gunvor, traditionally focused on oil and gas, metals and bulk commodities, has in recent years also begun trading power in Europe. Tornqvist said the firm's traded oil and LNG volumes are more than 3 million barrels per day of oil equivalent. "We are looking at whether to take a provision on our books for 2022," Tornqvist said. As co-founder of Gunvor, Tornqvist remains the majority owner of the company but his stake slipped to 85.7% at the end of 2022, down from 88.4% year-on-year.
☆ Goldman Sachs expects commodities supercycle
  + stars: | 2023-03-21 | by ( Julia Payne | ) www.reuters.com   time to read: +1 min
LAUSANNE, Switzerland, March 21 (Reuters) - Goldman Sachs expects a commodities supercycle driven by China and the capital flight from energy markets and investment this month after concerns triggered by the banking sector, the U.S. bank's head of commodities said. "As losses mounted, it spilled into commodities," Jeff Currie, global head of commodities for Goldman Sachs, told the Financial Times Commodities Global Summit on Tuesday. Currie emphasised the hit was to the supply side rather than demand and he remains very bullish on copper. We have peak supply occuring in 2024...Near term we put (the copper price) at $10,500 and longer term our price target is $15,000 a tonne." Copper hit a record high $10,845 in March 2022.
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