Vitol’s Post

An exciting step forward for Vitol Bunkers as we partner with ZeroNorth to roll out their eBDN (electronic bunker delivery note) solution in Singapore. We are pleased to support the Maritime and Port Authority of Singapore (MPA) ambition to be a digital bunker port as well as boost the efficiency of our processes. Read more here: https://lnkd.in/dRGAhsGh #digital #bunkering #Singapore

Great discussion at the #ABD24 session yesterday, ‘The key role of pan-African banks and multilateral financial institutions’. To describe the current situation Michael Curran, Head of carbon and environmental products at Vitol started his remarks on a positive note saying, ‘the solutions are there and feasible, but they need to be implemented. For example, $4 per person per year between now and 2030 would bring clean cooking to 1bn people in Africa.' ‘This goes to the heart of our recent announcement at the IEA summit on #cleancooking when we announced our intention to commit $550m to clean cooking solutions by 2030.’   As the discussion moved on to the role of carbon markets in Africa, Michael explained, ‘#Carbon markets provide the opportunity for #Africa to finance its development’ ‘The mechanisms and resources are there; you just need a price for carbon and an efficient market to realise the benefits.’ There was robust discussion on what impact carbon projects and the expansion of the African carbon market might have on the continent’s ability to industrialise. Michael was of the opinion that, ‘Whilst markets are voluntary, there will often be a focus on nature-based projects, but once regulation is brought in, there’s an opportunity for nations to determine a framework for projects which include carbon credits based on things like industrial efficiency and #emissions reduction. This in turn would accelerate and incentivise development.’ You can read more about our carbon activities here https://bit.ly/45HZnBK #Commodities #CarbonMarkets #Energy #EnergyTransition

Vitol's Head of Carbon and Environmental Products, Michael Curran is taking part in #AfricaBusinessDay2024 tomorrow, discussing the role of carbon markets in bringing finance to #Africa - join in person or online if you can!

#MarineBunkerFuel demand:- Despite the ongoing recovery in #PanamaCanal traffic, the unchanging #Suez transit situation means that the overall impact is increased ton-miles. As a result, demand for marine bunker fuel remains elevated. #MarketOutlook #Energy #Commodities

Vitol has completed the acquisition of the 35.019% shareholding held by the Moratti family in #Saras S.p.A. Vitol therefore now owns, directly and indirectly through Varas, 45.48% of the share capital of the Company. “For me, my children, my grandchildren and my entire family, this moment is filled with emotions, coming from the long and joyful history together with the Company; yet we live it with the certainty that the entry of a leading player in the #energy sector like Vitol will guarantee a great future for the Company, its employees and the local community” commented Massimo Moratti Read the full press release: https://bit.ly/3KQjHqL

Rounding off #LPGDay, we talked to Sebastien Peine, Head of LPG at Vitol about the role LPG can play in enabling #cleancooking solutions for people and communities in developing economies. LPG is a clean-burning and #low-carbon fuel, and key to realising its life-changing impact is: - the development and maintenance of safe and reliable infrastructure to ship, store and transport the LPG to where it is needed, and - the affordability of the end product. #LPG #LiquidGas #AlternativeFuel #CookingFuel #EnergyTransition #EnergyEfficiency World Liquid Gas Association Watch the full interview:

Continuing our focus on #LPGDay #LPG accounts for about 3% of #energy consumed globally and is used by more than 3 billion people on all continents. Areas of growth driving demand are #petrochemicals and residential, particularly in #Asia (which accounts for around half the gain over the past decade). #China is the world’s largest LPG market – more than doubling over the past decade to account for around a fifth of global use. However, the #US remains the biggest overall #NGL market, where cheap and plentiful feedstock supply has resulted in consumption jumping by 80% since 2010 to average 3.2mln bpd last year. #LiquidGas #AlternativeFuel #EnergyTransition #EnergyEfficiency World Liquid Gas Association