Mercuria

What Mercuria does

Mercuria Energy Group is a privately held Swiss-headquartered independent energy and commodity trading group founded in Geneva in 2004 by Marco Dunand (CEO) and Daniel Jaeggi (President). It operates across more than 50 countries with three principal trading regions (Europe, Asia Pacific, Americas) and trades crude oil, refined products, natural gas, LNG, power, metals, and environmental products, serving enterprise counterparties including oil producers, refiners, utilities, mining companies, and national oil companies. The firm reported gross revenue of $128 billion and net income of $1.43 billion in 2025, with total equity of $6.3 billion.

Name

Mercuria

Legal name

Mercuria Energy Group Limited

Website

https://mercuria.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Mercuria is a Geneva-based independent energy and commodity trading group founded in 2004, operating in 50+ countries across crude oil, refined products, natural gas, LNG, power, and metals for enterprise producers, refiners, utilities, and NOCs.

Ownership category

akta.pro rank

Headquarters

HQ city

Geneva

HQ country

Switzerland

HQ region

Europe

Offices13 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Commodity Trading: Mercuria trades energy and commodities globally, generating revenue through physical commodity transactions, trading margins, and market arbitrage across crude oil, refined products, natural gas, LNG, power, metals, and environmental products.
2. Asset Investments: Returns from investments in physical assets including refineries, fuel stations, power plants, data centers, and nature-based solutions. The company has expanded into downstream assets like the Raizen Argentina acquisition.
3. Offtake Agreements: Revenue from strategic offtake agreements for minerals and commodities including copper, cobalt, LNG, and Venezuelan bulk commodities and gold.
4. Financing and Prepayment Facilities: Provides prepayment financing and working capital facilities to producers and mining operations, generating returns through interest and commodity price movements.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Mercuria is an independent energy and commodity trading group that trades crude oil, refined products, natural gas, LNG, power, metals, and environmental products globally. In addition to its core trading activities, the company operates storage terminals and bunkering services, and is developing emerging businesses in nature-based solutions and data centers.

Product overview

Mercuria is one of the world's largest independent energy and commodity groups, operating as a unified trading and investment platform with multiple specialized business units and subsidiaries. The core offering spans physical and financial energy and commodity trading, supported by asset ownership (refining, terminals, shipping), and adjacent services including net zero/environmental solutions, metals trading, and LNG. Key subsidiary and branded offerings include Minerva Bunkering (marine fuel supply), Vesta Terminals (storage infrastructure in Europe), Silvania (nature-based climate investment platform with $500M capital commitment), Phoenix Global Resources (Vaca Muerta upstream oil producer backed by Mercuria at ~90% ownership), and Element Critical (data center platform backed by Mercuria alongside 26North, Arctos, and Safanad). Mercuria also operates a joint venture with Tata International for diversified global commodities trading. The company also publishes a nature-focused investment platform Silvania.

Differentiator

Problem solved

Functional benefit

Brands

• Silvania: Nature-based investment platform launched by Mercuria with a $500M capital commitment, dedicated to nature and biodiversity protection and restoration
• Minerva Bunkering
• Vesta Terminals

Quantifiable outcome

• $128 billion gross revenue in 2025
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Partnerships

15 partnerships are on record, tiered minor, major and strategic.

• Lotus ResourcesminorChannel Partner/ Reseller/ Distributor · 24 June 2026$30 million inventory prepayment facility to support operational and liquidity needs of uranium mining company.
• Raizen SAmajorStrategic or Co-development Partner · 8 June 2026Binding agreement to acquire 100% of Raizen's downstream and related operations in Argentina, including the Dock Sud refinery near Buenos Aires and hundreds of gas stations, strengthening Mercuria's presence in Latin America.
• Raizen SAmajorStrategic or Co-development Partner · 4 June 2026Acquisition of 100% of Raizen's downstream operations in Argentina including refining, fuel distribution (approximately 894 Shell-branded fuel stations), and associated infrastructure assets for approximately US$1.42 billion.
• KazakhmysmajorStrategic or Co-development Partner · 29 May 2026Expanded strategic cooperation with opening of regional office in Astana. Partnership focuses on industry, energy, logistics, and advanced production solutions including technology transfer, human capital development, and local community support.
• Motor Oil HellasmajorStrategic or Co-development Partner · 25 May 2026MOU for long-term cooperation on Dioriga Gas FSRU project in Greece's Saronic Gulf. Mercuria will supply LNG to Motor Oil Hellas for delivery through the FSRU terminal, with both parties jointly developing the framework to bring the project to commercial operation.
• Heeney CapitalmajorStrategic or Co-development Partner · 1 May 2026Strategic offtake agreements for Venezuelan bulk commodities and gold projects as part of US-backed energy and mining initiative. Expected to unlock approximately US$2.2 billion in annual mineral export value, with additional opportunities across aluminum, nickel, and ferrous products potentially adding further US$3.0 billion.
• Caturus / Commonwealth LNGmajorStrategic or Co-development Partner · 9 April 202620-year LNG sale and purchase agreement for 1.5 million tonnes per annum from Commonwealth LNG export facility in Cameron, Louisiana, with corresponding gas supply agreement. Glencore and Mercuria increased purchases from initial 1 million to 1.5 million tonnes.
• Continental ResourcesmajorStrategic or Co-development Partner · 26 March 2026Partnership to build the Pecos Power Plant, a 452 MW gas-fired power plant in Pecos, Texas. Construction began September 2025 with commercial operations targeted for 2027. Partnership combines power and gas market expertise with infrastructure development capabilities.
• Entreprise Générale du Cobalt (EGC)strategicStrategic or Co-development Partner · 26 March 2026MOU to develop responsible cobalt supply chain in DRC focusing on Kasulo mine site. Partnership aims to establish high standards for transparency, safety, environmental stewardship, and human rights in artisanal mining.
• Performance ShippingminorChannel Partner/ Reseller/ Distributor · 17 March 2026Charter agreement for LR1 tanker vessel to Mercuria Energy Trading at US$23,750 per day for four years firm charter plus six-year optional period.
• Tata InternationalmajorStrategic or Co-development Partner · 6 February 2026Joint venture for global commodities trading across energy, metals, agricultural products, oil and gas, and environmental products. Combines Tata International's reach with Mercuria's global capabilities to create diversified trading platform.
• GecaminesmajorStrategic or Co-development Partner · 4 February 2026Joint venture between DRC state miner and Mercuria backed by US International Development Finance Corporation for copper and cobalt exports. Initial agreement to ship 100,000 tons of copper to US with plans to expand to Saudi Arabia and UAE.
• Project Vault / EXIM BankmajorStrategic or Co-development Partner · 2 February 2026Participation as supplier in Project Vault, US Strategic Critical Minerals Reserve initiative backed by $10 billion EXIM loan. Mercuria Americas contributes to securing critical minerals supply chains for US manufacturing and national security objectives.
• Vesta TerminalsstrategicStrategic or Co-development Partner50:50 partnership between Mercuria and Sinomart creating independently operated logistics provider. Vesta owns and operates three storage terminals in Belgium, Netherlands, and Estonia for crude oil, refined products, biofuels, and petrochemicals.
• N+P GroupminorStrategic or Co-development PartnerPartnership with Dutch pioneer in waste-derived alternative fuel production and supply. Supports circular economy and sustainable fuel solutions in Europe.

Scale indicators17 records

Recent moves5 records

Expansion highlights8 records

Direct peers

• Vitol: The world's largest independent energy and commodity trader, headquartered in Rotterdam, with comparable crude oil, refined products, LNG, and metals trading operations serving similar enterprise counterparties globally.
• Trafigura: A closely-held Geneva-headquartered commodity trader with parallel business model spanning crude, refined products, metals, and soft commodities, operating from the same Swiss financial center with similar enterprise counterparty base.
• Gunvor Group: A Geneva-based independent commodity trader specializing in oil, gas, and refined products trading with global operations, similar asset investments in terminals and downstream, and overlapping client base of national oil companies and refiners.
• Hartree Partners: A New York-based independent commodity merchant focusing on energy, metals, and environmental products, co-participating with Mercuria in Project Vault and competing for similar offtake and trading volumes in oil, gas, and metals markets.
• BB Energy: A London-headquartered independent oil and petroleum products trader with physical trading across crude, refined products, and LPG, competing for similar counterparty flow in EMEA and emerging markets.

Broad incumbents

• Glencore: The publicly listed Swiss-headquartered diversified commodity giant trading oil, gas, metals, and agricultural products with significantly broader scale (~$200bn revenue) and integrated mining operations that overlap Mercuria's energy and metals trading franchise.
• Koch Supply & Trading: The trading arm of privately held Koch Industries, one of the largest privately held commodity trading operations in oil, gas, and refined products globally, with comparable physical trading capabilities and access to North American production.
• Louis Dreyfus Company: A privately held global merchant and processor of agricultural commodities with a smaller energy and metals trading book, comparable diversified commodity platform model and similar family/founder-controlled governance structure.
• Cargill: The largest privately held US agricultural commodity trader with an emerging energy and metals trading franchise; comparable diversified commodity platform model with global origination, trading, and asset ownership.
• PetroChina International: The trading and overseas investment arm of CNPC, one of the largest state-owned integrated oil and gas companies, competing with Mercuria in crude oil trading, LNG offtake, and emerging-market energy offtake arrangements.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mercuria-energy-trading-sa
• Instagraminstagram.com/mercuria_energy_group
• Xx.com/mercuria
• Facebookfacebook.com/MercuriaGroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries8 records

Funding overview

Funding rounds10 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments31 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mercuria