Trafigura goes upstream
The trading house expands its E&P footprint, but does not want to go down the ‘mini-major’ route
Commodity trading houses have had their traditional middleman model squeezed in recent years due to increased focus from majors and other IOCs on pursuing a portfolio player approach. The NOCs are going more heavily into trading, and natural buyers also moving beyond simply being price-takers. Unsurprisingly, these most commercially savvy market operators are evolving to the new paradigm. A shift to greater involvement in the upstream sector—be it debt financing in exchange for barrels, partnerships, including equity stakes, in producers, or even taking stakes in fields themselves—has been one of the key planks in this shift. Since the start of the year, Singapore-based trader Trafigura ha
Also in this section
4 March 2025
The US and Canada are boosting capacity builds for renewable diesel and biofuels, while Central and South American countries are investing heavily to upgrade and expand their domestic refining sectors
4 March 2025
EU net-zero polices have shifted refining investment among member states, while across the region countries and companies continue to adjust to changes in trade flows caused by the war in Ukraine
4 March 2025
Gas auctions underperform, signalling a slow start to 2025 after bumper 2024
3 March 2025
The Middle East is focusing on modernisation and expansion projects, while Africa is seeking to reduce its imports of refined products
