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\n \n(Photo: Trafigura)\n<\/p>\n<\/div>\n<\/div>\n<\/div>\n Rhone Energies, a consortium of commodity trader Trafigura and Entara LLC, has agreed with ExxonMobil’s\u00a0ESSO\u00a0<\/span>SAF to buy the Fos-sur-Mer refinery and Toulouse and Villette-de-Vienne terminals in France.<\/p>\n “Discussions with the relevant authorities are ongoing and the necessary authorizations are expected by the end of October,” Trafigura said in a press release on Thursday.<\/p>\n The parties signed the sale agreement having completed an information and consultation procedure with employee representatives, Trafigura said.<\/p>\n Trafigura said it would have a minimum 10-year exclusive crude oil supply and product offtake agreement for the 140,000 barrel per day (bpd) capacity Fos-sur-Mer refinery when it announced it was in talks to acquire the site in April.<\/p>\n Trafigura’s partner in the deal, Entara LLC, is an energy infrastructure company that focuses on reducing carbon intensity of refining assets.<\/p>\n The deal to acquire the refinery is Trafigura’s second major acquisition this year. It also completed the acquisition of UK road fuels and biofuel supplier Greenergy on Thursday.<\/p>\n The acquisition of the Fos-sur-Mer refinery follows a trend of trading firms picking up physical assets.<\/p>\n Trafigura also signed a long-term commercial agreement to supply crude and market products from the ISAB refinery on Sicily last year, when Russia’s Lukoil sold it to private equity firm G.O.I. Energy.<\/p>\n Meanwhile, rival trader Vitol agreed to buy a controlling share of Saras, which operates the 300,000 bpd Sarroch refinery on Sardinia, earlier this year.<\/p>\n (Reuters – Reporting by Ashitha Shivaprasad and Sherin Elizabeth Varghese, Robert Harvey in London and Julia Payne in Brussels; editing by Jason Neely and David Evans)<\/em><\/p>\n<\/div>\n<\/div>\n maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":" August 1, 2024 (Photo: Trafigura) Rhone Energies, a consortium of commodity trader Trafigura and Entara LLC, has agreed with ExxonMobil’s\u00a0ESSO\u00a0SAF to buy the Fos-sur-Mer refinery and Toulouse and Villette-de-Vienne terminals in France. “Discussions with the relevant authorities are ongoing and the necessary authorizations are expected by the end of October,” Trafigura said in a press …<\/p>\n","protected":false},"author":1,"featured_media":46738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[],"class_list":["post-46737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/46737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=46737"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/46737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/46738"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=46737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=46737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=46737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nAugust 1, 2024<\/span>
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