![]() ![]() However, the total volume of commodities traded in 2022 was lower year-on-year, due to a reduction in oil and petroleum products volumes relating to Russian trade. Profit came in at US$7bn, more than double the previous year, as volatility as a result of the Ukraine war combined with the beginnings of a global recovery to boost demand. Global commodities trading giant and sometime bête-noire of the BBC, Trafigura Group Pte Ltd has boosted revenues for the year to September to US£315bn, up considerably from the US$213bn generated in the corresponding period a year ago. ![]() Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Proactive will on occasion use automation and software tools, including generative AI. The team also has access to and use technologies to assist and enhance workflows. Our human content creators are equipped with many decades of valuable expertise and experience. Proactive has always been a forward looking and enthusiastic technology adopter. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. This is content that excites and engages motivated private investors. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. All our content is produced independently by our experienced and qualified teams of news journalists. ![]() CPC declined to comment.Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. Rosneft has previously estimated that Vostok Oil, which will start production later this decade, would require more than 10 trillion roubles ($135 billion) in investments.Īfter a call with Rosneft, several analysts had said last year Rosneft planned to sell some 'brownfields', or mature assets, in southern Russia, along with underperforming brownfields elsewhere, to raise capital to develop Vostok Oil.Īfter the sale, Rosneft is expected to keep exports of gas condensate via CPC at least until the end of 2021, sources said.Ī joint venture between Rosneft and Royal Dutch Shell owns a 7.5% stake in CPC and there are no plans to sell it for now, sources added. Rosneft and Cengeo did not respond to requests for comment from Reuters. CPC pipeline ships Kazakh and Russian oil to the Black Sea.Ĭengeo, a private Russian company which focuses on mature oil fields, has already bought a 51% stake in Ingushneft and was expected to buy Stavropolneftegaz and Dagneft by the end of May, two sources said. Rosneft was selling its southern Stavropolneftegaz, Ingushneft and Dagneft with combined oil output of about 1 million tons per year, a fraction of the 205 million tons it pumped in 2020 (4.1 million barrels per day), four industry sources familiar with talks said.Ĭrude oil from Stavropolneftegaz, Ingushneft and Dagneft is exported via Caspian Pipeline Consortium (CPC) system, in which Rosneft holds a minority stake. Bakken oil province over the past decade. Vostok Oil, in which global commodities trader Trafigura has a 10% stake, is one of Russia's biggest oil projects, comparable in size with the exploration of West Siberia in the 1970s or the U.S.
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