Gunvor

Gunvor partners with ClearShift on zero carbon diesel and chemicals

Retrieved on: 
Tuesday, December 12, 2023

The Letter of Intent covers a 10-year supply of all natural gas and renewable natural gas, the offtake of low carbon diesel, and the offtake of high-grade carbon-neutral chemicals from ClearShift's facility to be located near the chemical corridor in Louisiana.

Key Points: 
  • The Letter of Intent covers a 10-year supply of all natural gas and renewable natural gas, the offtake of low carbon diesel, and the offtake of high-grade carbon-neutral chemicals from ClearShift's facility to be located near the chemical corridor in Louisiana.
  • The structure of Gunvor's supply and offtake allows for a fully de-risked margin to ClearShift, while providing optionality for both parties to capture additional margin.
  • The facility will consume approximately 55,000 MMBtu of natural gas and renewable natural gas per day and will produce approximately 75 million gallons per year of low-carbon renewable diesel and zero carbon, high-grade specialty chemicals.
  • "ClearShift is pioneering the energy transition, creating pure, low carbon fuels and carbon neutral specialty chemicals from readily available cheap hydrocarbon supplies," said Shane Foster, Energy Transition Lead – Americas at Gunvor.

CVR Energy Reports Second Quarter 2023 Results, Announces a Cash Dividend of 50 cents and a Special Dividend of $1.00

Retrieved on: 
Monday, July 31, 2023

Second quarter 2023 EBITDA was $300 million, compared to second quarter 2022 EBITDA of $401 million.

Key Points: 
  • Second quarter 2023 EBITDA was $300 million, compared to second quarter 2022 EBITDA of $401 million.
  • Adjusted EBITDA for the second quarter of 2023 was $347 million, down from $511 million in the second quarter of 2022.
  • “CVR Energy posted solid results for the second quarter of 2023 driven by strong crack spreads,” said Dave Lamp, CVR Energy’s Chief Executive Officer.
  • CVR Energy announced a second quarter 2023 cash dividend of 50 cents per share.

CarbonChain Raises $10M Series A to Accelerate Global Decarbonization through Carbon Accounting

Retrieved on: 
Tuesday, April 25, 2023

LONDON, April 25, 2023 /PRNewswire/ -- CarbonChain, an AI-fueled carbon accounting platform using granular data to provide end-to-end visibility into the carbon footprint of a company's supply chain, today announced its $10M Series A funding round, co-led by Union Square Ventures and Voyager Ventures. CarbonChain will use these funds to build new carbon accounting and reporting products, expand its customer base in the most carbon-intensive value chains (manufacturing, commodities, and heavy industry), and grow its team to meet increasing demand.  

Key Points: 
  • Global merchandise trade exceeds $20 trillion a year , and the supply chains that feed that trade are responsible for 60% of global emissions .
  • Despite global demand for quantifying and reducing carbon emissions to meet net-zero by 2050 , many organizations struggle to accurately measure and report their carbon footprint.
  • CarbonChain provides companies and financial institutions with accurate accounting of Scope 3 and supply chain emissions.
  • Through its verified and validated methodology and expansive database covering 80% of global emissions, CarbonChain enables carbon traceability, product carbon footprinting and the identification of real-time reduction opportunities.

CarbonChain Raises $10M Series A to Accelerate Global Decarbonization through Carbon Accounting

Retrieved on: 
Tuesday, April 25, 2023

LONDON, April 25, 2023 /PRNewswire/ -- CarbonChain, an AI-fueled carbon accounting platform using granular data to provide end-to-end visibility into the carbon footprint of a company's supply chain, today announced its $10M Series A funding round, co-led by Union Square Ventures and Voyager Ventures. CarbonChain will use these funds to build new carbon accounting and reporting products, expand its customer base in the most carbon-intensive value chains (manufacturing, commodities, and heavy industry), and grow its team to meet increasing demand.  

Key Points: 
  • Global merchandise trade exceeds $20 trillion a year , and the supply chains that feed that trade are responsible for 60% of global emissions .
  • Despite global demand for quantifying and reducing carbon emissions to meet net-zero by 2050 , many organizations struggle to accurately measure and report their carbon footprint.
  • CarbonChain provides companies and financial institutions with accurate accounting of Scope 3 and supply chain emissions.
  • Through its verified and validated methodology and expansive database covering 80% of global emissions, CarbonChain enables carbon traceability, product carbon footprinting and the identification of real-time reduction opportunities.

McDermott Awarded FEED Contract From Gunvor Petroleum

Retrieved on: 
Wednesday, September 7, 2022

HOUSTON, Sept. 7, 2022 /PRNewswire/ -- McDermott International, together with its storage business, CB&I, has been awarded a Front-End Engineering Design (FEED) contract from Gunvor Petroleum Rotterdam B.V. for the Green Hydrogen Import Terminal project.

Key Points: 
  • HOUSTON, Sept. 7, 2022 /PRNewswire/ -- McDermott International, together with its storage business, CB&I, has been awarded a Front-End Engineering Design (FEED) contract from Gunvor Petroleum Rotterdam B.V. for the Green Hydrogen Import Terminal project.
  • Under the contract scope, CB&I will provide the FEED of the ammonia tank and associated Inside Battery Limits (ISBL) equipment.
  • McDermott will support with FEED activities for the interconnecting pipeline, tie-ins and other Outside Battery Limits (OSBL) scope.
  • As part of the FEED, a project execution cost estimate will be developed as basis for a potential conversion into an engineering, construction and procurement (EPC) contract for the implementation phase.

Air Products and Gunvor to Cooperate on Green Hydrogen Import Terminal in Rotterdam

Retrieved on: 
Tuesday, June 28, 2022

LEHIGH VALLEY, Pa. and ROTTERDAM, Netherlands, June 28, 2022 /PRNewswire/ -- Air Products (NYSE:APD) and Gunvor Petroleum Rotterdam (GPR), a wholly-owned subsidiary of Gunvor Group (Gunvor), have signed a joint development agreement for an import terminal in Rotterdam.

Key Points: 
  • LEHIGH VALLEY, Pa. and ROTTERDAM, Netherlands, June 28, 2022 /PRNewswire/ -- Air Products (NYSE:APD) and Gunvor Petroleum Rotterdam (GPR), a wholly-owned subsidiary of Gunvor Group (Gunvor), have signed a joint development agreement for an import terminal in Rotterdam.
  • Certification of the green hydrogen is needed to ensure that the imported green ammonia and resulting green hydrogen is recognized and counted towards the EU renewable energy targets.
  • The Gunvor site in Europoort Rotterdam is one of several European locations envisaged by Air Products for the development of a green hydrogen import terminal.
  • Ivo Bols , President Europe and Africa, said, "Air Products is pleased to take a next step towards a green hydrogen import terminal in Rotterdam, together with our partner Gunvor.

Energy Transfer Signs LNG Sale and Purchase Agreement With Gunvor

Retrieved on: 
Monday, May 2, 2022

Energy Transfer LP (NYSE: ET) and Gunvor Group Ltd today announced that Gunvor Singapore Pte Ltd (Gunvor) has entered into an LNG Sale and Purchase Agreement with Energy Transfer LNG Export, LLC (Energy Transfer LNG), a subsidiary of Energy Transfer LP, related to its Lake Charles LNG project.

Key Points: 
  • Energy Transfer LP (NYSE: ET) and Gunvor Group Ltd today announced that Gunvor Singapore Pte Ltd (Gunvor) has entered into an LNG Sale and Purchase Agreement with Energy Transfer LNG Export, LLC (Energy Transfer LNG), a subsidiary of Energy Transfer LP, related to its Lake Charles LNG project.
  • View the full release here: https://www.businesswire.com/news/home/20220502005601/en/
    Under the SPA, Energy Transfer LNG will supply 2 million tonnes of LNG per annum to Gunvor on a free-on-board (FOB) basis.
  • The SPAs will become fully effective upon the satisfaction of the conditions precedent, including Energy Transfer LNG taking final investment decision (FID).
  • Gunvor is a well-known participant in the LNG industry, and we are excited to have them as a customer, said Tom Mason, President of Energy Transfer LNG.

Gunvor Returns to Bond Market with US $300 mil. 5-Year Notes

Retrieved on: 
Thursday, September 30, 2021

Net proceeds of the Notes will be used for general corporate purposes.

Key Points: 
  • Net proceeds of the Notes will be used for general corporate purposes.
  • "We are delighted to have successfully returned to the bond market and thank investors for their high level of engagement and confidence in our business model.
  • The Notes have been admitted to trading on the Global Exchange Market of the Irish Stock Exchange plc, trading as Euronext Dublin.
  • The Notes are unconditionally and irrevocably guaranteed by Gunvor SA, Gunvor International B.V., Gunvor Singapore Pte.

Gunvor Returns to Bond Market with US $300 mil. 5-Year Notes

Retrieved on: 
Thursday, September 30, 2021

Net proceeds of the Notes will be used for general corporate purposes.

Key Points: 
  • Net proceeds of the Notes will be used for general corporate purposes.
  • "We are delighted to have successfully returned to the bond market and thank investors for their high level of engagement and confidence in our business model.
  • The Notes have been admitted to trading on the Global Exchange Market of the Irish Stock Exchange plc, trading as Euronext Dublin.
  • The Notes are unconditionally and irrevocably guaranteed by Gunvor SA, Gunvor International B.V., Gunvor Singapore Pte.

Tellurian Reports Second Quarter 2021 Results

Retrieved on: 
Tuesday, August 3, 2021

Tellurian Inc. (Tellurian) (NASDAQ: TELL) continues to build its integrated global natural gas business, entering into liquefied natural gas (LNG) sale and purchase agreements (SPAs) with Gunvor Singapore Pte Ltd and Vitol Inc. for a total of six million tonnes per annum (mtpa) in the second quarter.

Key Points: 
  • Tellurian Inc. (Tellurian) (NASDAQ: TELL) continues to build its integrated global natural gas business, entering into liquefied natural gas (LNG) sale and purchase agreements (SPAs) with Gunvor Singapore Pte Ltd and Vitol Inc. for a total of six million tonnes per annum (mtpa) in the second quarter.
  • Tellurian ended its second quarter of 2021 with approximately $111.9 million of cash and cash equivalents and no borrowing obligations, and generated approximately $5.6 million in revenues in the quarter from natural gas sales.
  • Based on current production and anticipated results from new wells to be drilled, Tellurian estimates the 2021 year-end exit rate for gross natural gas production to be approximately 95 million cubic feet per day (mmcf/d).
  • Tellurian reported a net loss of approximately $30.6 million, or $0.08 per share (basic and diluted), for the three months ended June 30, 2021.