oil trading Archives - The Daily Journal

Vitol and Trafigura push for discounts on Venezuelan crude oil

September 23, 2026September 23, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Major international oil trading companies Vitol and Trafigura are pushing for steeper discounts on Venezuelan crude oil as rising freight rates erode both companies’ profit margins. According to sources consulted by Reuters, the companies are seeking more favorable prices per barrel after maritime transportation costs surged in recent weeks. Higher shipping costs […]

Polish state-owned company lost at least US$424 million in failed Venezuelan crude deal, FT reports

September 17, 2026September 17, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Polish state-owned oil company Orlen lost at least US$424 million in a failed deal to acquire six million barrels of Venezuelan crude, in a transaction that involved a US$230 million advance payment, cryptocurrency and a network of intermediaries in Dubai and Venezuela, according to an investigation published by the Financial Times. Orlen’s […]