Europe’s gigafactory bubble is bursting with battery makers Northvolt and ACC halting schemes amid waning demand for EVs. With project sponsors reviewing business models, debt parking arrangements are underway. Have Europe’s EV hopes lost charge? More
Gazprom is exploring opportunities for the extraction of so-called white hydrogen in Siberia. Initial studies have been conducted at the Kovykta field in the Irkutsk region. White hydrogen, otherwise known as natural hydrogen, is extracted through geological processes as opposed to water... More
Steven Richards has joined Export Development Canada as its new chief risk officer (CRO). Richards was previously at CPP Investments, where he had spent more than 11 years culminating as managing director and head of enterprise risk and analytics. Lorraine Audsley, who was EDC’s CRO and head... More
Lila Granda talks strategy in her first interview since her appointment as head of political risk & credit, and Vantage Risk Companies’ admission to Berne Union as full members. How does the company work with MDBs and DFIs? How do fronting solutions help? What is the role of CPRI in sustainable... More
Shell has posted Q3 profits of $6 billion, exceeding forecasts by 12%. This is down 3% year-on-year thanks to a sharp drop in global refining margins and low oil prices but a 13% rise in profits from LNG, its largest business division, served to offset these losses. The company reported... More
Saudi Agricultural & Livestock Investment Company (SALIC) has submitted a non-binding bid for Olam Group's agribusiness unit. Sources say that advanced talks have taken place over a deal that would value Olam Agri at around $4 billion. SALIC, which is owned by the state investment fund,... More
Syrah has secured a loan of $150 million from the DFC for the Balama graphite mine in Mozambique. This marks the first US development finance institution loan to a graphite project. An initial disbursement of $73 million will be released in November. Syrah, an Australian mining company, is also... More
Vitol and Coterra Energy have agreed a long-term LNG indexed gas supply deal. Under the terms of the Sale and Purchase Agreement, Coterra will supply 100,000 million British thermal units of gas per day, equivalent to around 700,000 tonnes of LNG per annum. Vitol will pay a price indexed to the... More
Siam Cement Group (SCG) will invest an additional $700 million in its flagship Long Son Petrochemicals Complex (LSP). The $5.2 billion LSP will now use ethane imported from the United States to reduce feedstock costs. The new funds will be used for ethane storage facilities, which must maintain a... More
Saudi Aramco and Petrovietnam have announced a framework agreement to collaborate on the storage and trading of petrochemical products. Aramco, which is the world’s biggest crude exporter, has been diversifying its business by heavily investing in petrochemicals. Vietnam recently started up... More
Gunvor USA has closed an upsized $2.34 billion uncommitted borrowing base facility with a syndicate of international banks. The total is comprised of a $1.75 billion one-year tranche and a $584 million two-year tranche. A $500 million accordion feature also features on the deal. Proceeds... More
IDB Invest has signed two loans totalling $85 million for Brazilian credit cooperative Cresol. Proceeds will expand credit for low-income individuals and micro, small, and medium-sized enterprises (MSMEs). A $25 million loan will go to the cooperative Central Sicoper, and $60 million to the... More
The Foundry, Geneva, Switzerland
TXF returns to Geneva November 2024, this time with a first-of-its-kind networking extravaganza! Connect with the industry with pre-arranged meetings and a spontaneous cocktail reception.
Full detailsGlencore has secured a 100% offtake agreement with Li-Cycle for recovered battery materials from its planned Rochester Hub facility. A previous agreement between Li-Cycle, Glencore and Traxys has covered the facility's lithium carbonate offtake. Glencore has now secured additional rights to... More
Swiss-based energy trader Litasco is hiring traders and acquiring credit lines as it prepares to rebuild its Americas business. Litasco is owned by Russia's Lukoil, and while neither company was included in the US sanctions regime, lenders cut their funding in the wake of the invasion of... More
JICA has signed a JPY2.836 billion ($18.5 million) grant for the government of Laos’ Project for Improvement of Vientiane International Airport. The upgrade project includes expansion of the passenger terminal building and repair of aprons and taxiways. The project is expected to be completed... More
RWE has secured the necessary construction and environmental permits to build an electrolyser near the Magnum Power Station in Eemshaven, the Netherlands.The 100MW electrolyser forms part of the onshore energy system integration plans associated with the 795MW OranjeWind offshore wind project in the... More
African Development Bank (AfDB) has approved a $75 million sustainability-linked loan to support the African operations of Export Trading Group (ETG). The package includes $65 million from AfDB along with $10 million in concessional co-financing from the Agri-Food Catalytic Financing... More
ABL Aviation has financed €170 million ($184.5 million) of ground support equipment (GSE) for ground service support provider Swissport. Structured as a multi-draw senior secured facility with an accordion up to €270 million, the deal is ABL’s inaugural financing in the sector and... More
John Cockerill has secured a contract to deliver electrolysers to one of the world's largest planned green ammonia facilities. In August 2024 AM Green reached a final investment decision on a one-million tonne green ammonia project to be located at an existing plant in Andhra... More
KfW IPEX-Bank is taking a leading role in Stonepeak’s acquisition of a 50% stake in the 2.6 GW Coastal Virginia Offshore Wind (CVOW) project in the US. Located off the coast of Virginia, the scheme is under construction by Dominion Energy and is scheduled for completion by the end of... More