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Trafigura

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uuid00009dw

Namestring
Trafigura
Legal namestring
Trafigura Group Pte. Ltd.
Websiteurl
trafigura.com
Company typeenum
Private
Founded yearint
1993
Descriptiontext

Trafigura Group Pte. Ltd. is a privately-held, employee-owned physical commodity trading company founded in 1993 and headquartered in Singapore, with approximately 14,500 employees, more than 1,400 employee-shareholders, and operations spanning 50+ offices and 150+ countries. The Group operates through seven core commercial divisions: Oil and Petroleum Products (6.6 million barrels/day to 2,000+ customers), Metals and Minerals (non-ferrous concentrates and refined metals plus iron ore, metallurgical and thermal coal — the latter under 5% of revenue), Gas and Power (39.6mmt+ of gas and LNG traded in 2025 plus >2 BCM European storage and licensed Brazilian power trading), Renewables and Hydrogen (MorGen Energy green hydrogen ecosystem targeting 3 GW by 2030), Carbon Trading (165Mmt+ volumes delivered annually across five regional hubs, 630,000+ ha nature-based removals footprint), Shipping and Marine Logistics (one of the world's largest vessel charterers with 5,250+ voyages/year and ~400 vessels on time-charter), and Logistics and Storage (Impala Terminals JV with IFM, Lobito Atlantic Railway concession, barge fleets on the Paraná-Paraguay Waterway).

The Group's technology and asset base combines physical infrastructure — owned/leased storage terminals, blending facilities, chartered and increasingly ammonia/methanol dual-fuel vessels, the 1,300 km Lobito railway concession to the DRC border, and a Texas power plant — with proprietary digital systems including the GoLow maritime carbon insetting programme, the Agora supply-chain carbon emissions platform (co-developed with bp and Ecopetrol), the Syzygy Plasmonics / Nth Cycle / Standard Lithium / Develop Global recycled-mineral offtake structures, and a venture portfolio across C-Zero, HY2GEN, OneH2, Zero Emission Industries, Malta Inc., Quidnet Energy, Bboxx, Daphne Technology, OXCCU and LanzaTech. Operating subsidiaries and JVs include Nyrstar (zinc/lead mining and smelting), Puma Energy (downstream fuels retail across emerging markets), Greenergy (acquired August 2024, UK/European biodiesel and road fuels), Impala Terminals (JV with IFM Investors), TFG Marine (bunker JV with Frontline and Golden Ocean), MorGen Energy, Nala Renewables (50% sold to IFM in May 2026), and Lobito Atlantic Railway.

Trafigura's revenue model is primarily transaction-based: it earns spreads between producer offtake and end-customer sale on physical commodities, supplemented by financing-linked offtake structures (prepayment facilities and debt-financed offtake with reference to LBMA/LME spot pricing), asset-level industrial earnings from operating subsidiaries (Nyrstar, Puma Energy, Greenergy, MorGen Energy, Impala Terminals, Nala Renewables), and freight/bunker revenues from third-party chartering. The business is funded through a three-pillar model combining short-term transactional facilities, securitisation programmes (Trafigura Securitisation Finance), and corporate credit facilities, supported by ~USD 75 billion in credit lines from ~150 banks. For H1 2026 (six months to 31 March 2026) the Group reported revenue of USD 141.9bn (vs USD 119.1bn in H1 2025), net profit of USD 4.1bn (third-best half-yearly result in its history), Underlying EBITDA of USD 7.9bn, group equity of USD 17.5bn and total assets of USD 111.3bn.

Short descriptiontext

Trafigura is a privately-held, employee-owned commodity trading group founded in 1993, headquartered in Singapore, that sources, transports, stores, blends and delivers oil, metals, gas, power, carbon credits and renewables across 150+ countries via ~14,500 employees, 50+ offices and 5,250+ shipping voyages per year.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
5,001–10,000
akta.pro rankint
HeadquartersSingapore, Singapore
HQ citystring
Singapore
HQ countrystring
Singapore
HQ regionstring
Asia
Markets served

Serves global market

Offices37 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
commodity trading, physical commodities supply, oil and petroleum products, metals and minerals trading, shipping and logistics services
Industry2 codes
1Liquefied Gas Transport (LNG/LPG/Ammonia)
CodeTLADALACPrimaryYes
2Liquid Bulk / Tanker Freight Brokerage
CodeTLADAMALPrimaryNo
NAICS code4 codes
  • Petroleum Bulk Stations and Terminals424710
  • Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)424720
  • Petroleum and Petroleum Products Merchant Wholesalers4247
  • Pipeline Transportation of Refined Petroleum Products486910
SIC code4 codes
  • Wholesale-Petroleum Bulk Stations & Terminals5171
  • Wholesale-Petroleum & Petroleum Products (No Bulk Stations)5172
  • Arrangement Of Transportation Of Freight & Cargo4731
  • Wholesale-Metals & Minerals (No Petroleum)5050
Product category
Commodity Trading
Social media profiles2 records
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model7 records
1Oil and petroleum products trading
TypeTransaction Fee
Description

Physical trading of crude oil and refined products (gasoline, jet fuel, diesel, bitumen, fuel oil). Reported as 6.6 million barrels traded per day across 2,000+ customers. Revenues are transaction-based, earned on the spread between producer offtake and end-customer sale, supported by blending to specification and storage/logistics.

trafigura.com
2Metals and minerals trading
TypeTransaction Fee
Description

Physical supply of non-ferrous concentrates and refined metals including aluminium, copper, zinc, nickel, cobalt, lithium, lead plus gold, silver, PGMs and by-products. Volumes are sourced from miners via prepayment/financing structures and sold to industrial customers; bulk commodities include iron ore and metallurgical/thermal coal (less than 5% of Group revenue).

trafigura.com
3Gas and power trading
TypeTransaction Fee
Description

Traded 39.6mmt+ of gas and LNG in 2025; holds >2 BCM annual European gas storage capacity and trades power across 20+ countries. Long-term offtake deals (e.g., Cheniere, KOGAS, Tourmaline, SEFE) plus wholesale power trading (recently licensed in Brazil). Revenue mix combines physical and paper trading spreads.

trafigura.com
4Carbon trading and removals
TypeTransaction Fee
Description

One of the largest carbon trading desks globally with 165Mmt+ volumes delivered annually across five regional hubs. Sells compliance-grade allowances, voluntary credits (Gold Standard, Verra, ACR, Climate Action Reserve), and nature-based/technology-based removal credits; develops projects across 630,000+ ha.

trafigura.com
5Shipping and marine logistics services
TypeTransaction Fee
Description

One of the world's largest vessel charterers running 5,250+ voyages/year, ~400 vessels on time-charter; offers third-party freight services. Also operates TFG Marine bunker JV with Frontline and Golden Ocean. Revenue captured through freight rates, bunker margins and vessel sales.

trafigura.com
6Asset-level industrial earnings (Puma Energy, Greenergy, Nyrstar, Impala Terminals, MorGen Energy, Nala Renewables)
TypeHardware Sales
Description

Earnings from owned/operated subsidiaries and JVs: Puma Energy fuels/lubricants/bitumen retail and storage; Greenergy road fuels and biodiesel; Nyrstar zinc/lead mining and smelting; Impala Terminals storage/logistics; MorGen Energy hydrogen; Nala Renewables renewable power. Generate hardware/asset sales, retail fuel margins, tolling fees and managed service revenue.

trafigura.com
7Financing-linked trading (prepayment facilities, debt-financed offtake)
TypeTransaction Fee
Description

Capital is deployed via prepayment facilities and debt financing tied to offtake (e.g., Heath Goldfields $65M, LaFleur C$30M, Denarius Metals $16M, Standard Lithium 10-year lithium carbonate offtake, Nth Cycle $1.1B, Syzygy Plasmonics 6-year SAF offtake, Develop Global USD400M). Returns captured via commodity supply at contracted pricing corridors and interest on financing.

trafigura.com
Cost components6 values
Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Pricing details5 tiers
1Offtake / prepayment financing contracts with pricing corridors tied to LBMA spot (e.g., $3,300–$4,000/oz gold at Heath Goldfields)
ModelTransaction based/ take rateBilling cadenceMulti-year contract
Notes

Trafigura provides structured debt financing alongside offtake purchase commitments; pricing referenced to exchange spot. Example: Heath Goldfields 700,000 oz offtake + $65M debt financing.

discoveryalert.com.au
2Long-term lithium carbonate offtake at 8,000 t/yr for 10 years (Standard Lithium SWA Project)
ModelUnit PricingBilling cadenceMulti-year contract
Notes

Volume-defined offtake covering >40% of Standard Lithium's targeted offtake; first commercial production targeted for 2029.

financialpost.com
310-year recycled nickel and lithium carbonate offtake (Nth Cycle): 2,000 t/yr nickel + 1,500 t/yr lithium carbonate
ModelUnit PricingBilling cadenceMulti-year contract
Notes

Pricing terms not publicly disclosed. Volumes support financing of Nth Cycle's South Carolina and Netherlands facilities targeting 2028 operations.

resource-recycling.com
46-year binding SAF offtake (Syzygy Plasmonics) covering entire output of NovaSAF-1 Uruguay plant
ModelTransaction based/ take rateBilling cadenceMulti-year contract
Notes

Deliveries targeted for 2028; SAF volumes expected to scale to 1 million tons annually by 2035.

cleantechnica.com
5Wholesale power purchase agreements (PPAs) in Brazil — ANEEL-licensed power trading
ModelOtherBilling cadenceMulti-year contract
Notes

Brazil power desk will procure and supply PPAs; prices not publicly disclosed (market-based).

trafigura.com
GTM typeB2B
B2B
Offering typeServices
Services
Brand1 of 10 records shown
1Greenergy
Description

Established supplier and distributor of transportation fuels and leading European manufacturer of biodiesel from wastes, operating plants in the UK and Netherlands; markets in Ireland via Inver Energy and Amber Petroleum brands; Canadian operations acquired in 2024. Acquired by Trafigura in 2024.

trafigura.com
+9 more records
Core offering1 text field

Trafigura is a physical commodity trading company that sources, transports, stores, blends and delivers crude oil and petroleum products, non-ferrous and bulk metals, natural gas and LNG, power, carbon credits, and related renewable and hydrogen products across global markets. The firm operates an integrated supply chain combining chartered vessels, owned/leased storage terminals (Impala Terminals JV), blending facilities, the Lobito Atlantic Railway corridor, and proprietary carbon and shipping platforms, serving industrial, mining, refining, utility and government customers in 150+ countries.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 12 values shown
  • $141.9bn Group revenue in H1 2026 (up from $119.1bn in H1 2025)
+11 more records
Product overview1 text field

Trafigura operates an integrated commodities platform spanning seven core commercial divisions — Oil and Petroleum Products, Metals and Minerals (including Iron Ore and Coal), Gas and Power, Renewables and Hydrogen, Carbon Trading, Shipping and Marine Logistics, and Logistics and Storage — that work together to source, transport, store, blend and deliver commodities to a global customer base. The platform is supported by a network of wholly-owned and joint-venture operating businesses including multi-metals producer Nyrstar, downstream fuel businesses Puma Energy and Greenergy (acquired 2024), terminals operator Impala Terminals (JV with IFM Investors), renewable power joint venture Nala Renewables, green hydrogen developer MorGen Energy, rail logistics concession Lobito Atlantic Railway, and marine fuel joint venture TFG Marine. Adjacent decarbonisation offerings include the proprietary GoLow maritime carbon insetting programme. Founded in 1993 and employee-owned with approximately 14,500 employees, the Group operates in more than 50 locations serving customers in over 150 countries.

Product and service15 records
1Oil and Petroleum Products
CategoryCore trading division
2Metals and Minerals
CategoryCore trading division
3Gas and Power
CategoryCore trading division
4Renewables and Hydrogen
CategoryCore trading division
5Carbon Trading
CategoryCore trading division
6Shipping and Marine Logistics
CategoryCore trading division
7Logistics and Storage
CategoryCore trading division
8GoLow Maritime Carbon Insetting Programme
CategoryProprietary decarbonisation programme
9Puma Energy
CategorySubsidiary - downstream fuels retail
10Greenergy
CategorySubsidiary - road fuels and biodiesel (acquired 2024)
11Nyrstar
CategorySubsidiary - mining and smelting
12Impala Terminals
CategoryJoint venture - storage and logistics
13MorGen Energy
CategorySubsidiary - green hydrogen developer
14TFG Marine
CategoryJoint venture - marine bunker fuels
15Lobito Atlantic Railway (LAR)
CategoryConsortium concession - rail logistics
Scale indicator24 records

Each record includes

Type, Value, Description, Source

Partnership31 partners
Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-06-10
Description

Final investment decisions on two Australian resource projects (Woodlawn and Sulphur Springs copper-zinc, and Pioneer Dome Lithium), alongside a USD400 million funding facility and a collaboration agreement with global commodities trader Trafigura.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-05-20
Description

Trafigura signed a 434 MW hybrid Power Purchase Agreement (PPA) with Nadara covering wind and solar facilities in Spain starting between 2027 and 2028. Includes 205 MW of solar added to existing wind farms. The largest off-take arrangement to date for Nadara and Trafigura's largest hybrid PPA.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-05-18
Description

Trafigura signed two non-binding MoUs totaling up to US$100 million in prepayment to support Geo Energy's expansion into coking coal mining through Harfa Taruna Mandiri in Central Kalimantan, Indonesia. Includes an offtake arrangement for approximately 1.5 million tonnes annually and a 15-year mining services contract with East Wonders Indonesia (initial US$60 million). Initial feasibility studies estimate reserves of 15-20 million tonnes of premium hard coking coal.

4Enterprise Générale du Cobalt (EGC, DRC) and EVelution Energy
Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-05-13
Description

Tripartite MOU signed in Madrid (May 13, 2026) to establish a long-term U.S.–DRC cobalt supply chain. EVelution Energy's Arizona facility targeted to process material covering ~40% of projected U.S. cobalt demand. Builds on December 2025 U.S.–DRC strategic critical minerals agreement; leverages the Lobito Atlantic Railway to reduce inland transit times to ~seven days. Construction of EVelution's facility targeted to begin early 2027 and complete by end of 2029. Parties also intend to explore local DRC cobalt refining capacity, EGC minority equity in EVelution, and technical training for Congolese teams.

trafigura.com
Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-05-11
Description

Binding 6-year offtake agreement with commodities trading firm Trafigura covering the entire output of Syzygy Plasmonics' first commercial plant NovaSAF-1 in Uruguay, with deliveries targeted from 2028. Plans to scale production to 1 million tons of SAF annually by 2035 through projects in Brazil, the Dominican Republic, Mexico, and North America.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-05-08
Description

MorGen Energy awarded a conditional EUR 422.75 million grant from the European Hydrogen Bank under the EU Innovation Fund for its Njordkraft green hydrogen project in Esbjerg, Denmark. Project features 300MW electrolyser capacity (scalable to 1GW), targeting ~45,500 tonnes/year RFNBO-compliant renewable hydrogen for delivery to industrial customers in Germany and mainland Europe.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-05-06
Description

Term sheet signed May 6, 2026 establishing exclusive negotiations for a major aluminium smelter project at the Nag Hammadi complex in Upper Egypt: a 300,000 tpa primary smelter and a 150,000 tpa anode plant with estimated $750M-$900M investment. Trafigura to participate as minority investor, debt provider, and counterparty for long-term raw material supply and production off-take agreements.

8Trafigura Beheer BV (planned re-domicile to Bermuda)
Strategic tierFlagshipTypeOthersAnnounced on2026-05-06
Description

Trafigura Group plans to re-domicile its key holding company Trafigura Beheer BV from the Netherlands to Bermuda. The entity was originally used by former employees of Marc Rich + Co to establish Trafigura in 1993 and served as the group's parent until a 2015 restructuring made a Singaporean entity the new parent.

bloomberg.com
Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-04-15
Description

Non-binding term sheet for C$30 million prepayment facility and gold offtake agreement with Trafigura. Trafigura has right of first refusal for future funding to expand mill capacity to 3,000-4,000 tpd. Subject to due diligence and regulatory approval.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-04-09
Description

Trafigura signed a gold doré offtake agreement for 700,000 ounces from the Bogoso-Prestea Gold Mine in Ghana's Western Region and provided USD65 million in debt financing to support the restart of the mine's oxide ore operations. Marks Trafigura's first transaction in Ghana's gold sector and its second African gold deal following Sierra Leone (December 2025). The mine completed its first gold pour in February 2026 after a two-year production hiatus.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-04-08
Description

$1.1 billion 10-year offtake agreement for 2,000 metric tons/year of recycled nickel and 1,500 metric tons/year of lithium carbonate from battery black mass processing. Materials will be sourced from two facilities under development in South Carolina and the Netherlands, both expected to begin operations in 2028. Deal reflects shift among commodity traders to secure recycled critical mineral supplies alongside traditional mining.

Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2023-11-15
Description

Trafigura increased its shareholding in H2 Energy Europe AG to become the majority owner, supporting large-scale green hydrogen projects and infrastructure development in Europe. The companies plan to build hydrogen facilities in Denmark (1 GW) and Wales (20 MW), with significant projects progressing and final investment expected in 2024 (Wales FID achieved March 2026).

Strategic tierFlagshipTypeStrategic or Co-development Partner
Description

Joint venture partner with Trafigura in Impala Terminals (45+ storage/logistics assets in 29 countries). Also JV partner in Nala Renewables; in May 2026 IFM agreed to acquire Trafigura's remaining 50% equity interest in Nala Renewables, taking full ownership.

Strategic tierCoreTypeStrategic or Co-development Partner
Description

TFG Marine is a joint venture between Trafigura, Frontline and Golden Ocean supplying 10+ million metric tonnes of marine fuels annually. CMB.TECH increased its stake and committed to sourcing bunker fuel through the JV (May 2026).

Strategic tierFlagshipTypeStrategic or Co-development Partner
Description

Trafigura is part of a consortium awarded a 30-year concession to operate the 1,300km Lobito railway across Angola to the DRC border, plus a minerals terminal. Provides a quicker western route to market for Congolese Copperbelt metals and minerals.

Strategic tierCoreTypeStrategic or Co-development Partner
Description

Long-term 15-year LNG Sale and Purchase Agreement with Cheniere (signed 2018) — a first for an independent commodity company. Trafigura is also a long-term offtake partner for SEFE (Securing Energy for Europe), supplying large gas volumes to Germany over four years (USD3bn Federal Republic of Germany loan-backed facility).

Strategic tierFlagshipTypeStrategic or Co-development Partner
Description

TFG Marine alliance between Trafigura and shipping companies Frontline and Golden Ocean — supplies over 10 million metric tonnes of marine fuels annually from strategic hubs across the world.

Strategic tierCoreTypeStrategic or Co-development Partner
Description

Prepayment facility upsized from US$9M to US$16M (with US$3.5M cash received under the Third Advance, 3,000,000 common share purchase warrants issued to Trafigura). Long-term offtake agreement; shipments of 2,337 tonnes containing 863 oz gold and 20,237 oz silver in Q1 2026. Commissioning of 1,000 t/day processing plant expected Q3 2026.

Strategic tierFlagshipTypeStrategic or Co-development Partner
Description

10-year binding offtake agreement with Trafigura Trading LLC covering over 40% of total targeted offtake for the South West Arkansas Project — 8,000 metric tonnes per year of battery-quality lithium carbonate over 10 years from commercial production.

Strategic tierFlagshipTypeStrategic or Co-development Partner
Description

Chinese tycoon Xiang Guangda, through Tsingshan Holding Group, is in advanced talks with Trafigura (alongside Mercuria and Glencore) to secure minority stake investments in a $3 billion, 800,000-ton aluminium smelter at Weda Bay in Indonesia. Proposed deal would give traders a share of output while providing Tsingshan with Western credibility.

Strategic tierMinorTypeStrategic or Co-development Partner
Description

Co-participant with Trafigura and Glencore as cornerstone investors in the Hong Kong listing of Indonesian gold miner PT Merdeka Gold Resources (HK$2.4bn / $305M raise). Also together with Trafigura and Glencore as potential minority stakeholders in Tsingshan's $3B Weda Bay aluminium smelter.

Strategic tierCoreTypeStrategic or Co-development Partner
Description

Cornerstone investors alongside Trafigura in the Hong Kong listing of Indonesian gold miner PT Merdeka Gold Resources (raise of up to HK$2.4bn / $305M). Also potential co-investors with Tsingshan in Indonesian aluminium smelter.

23WAVE Jeongeup / City Oil Field (Korea)
Strategic tierCoreTypeStrategic or Co-development Partner
Description

Sales contract covering the entire output of naphtha-grade recycled feedstock from the WAVE Jeongeup facility — Korea's first overseas export of recycled feedstock produced with domestically developed technology. 4,550 tons annually of ISCC PLUS-certified recycled feedstock. Trafigura is the first global commodities company to purchase ISCC PLUS-certified naphtha-grade recycled feedstock from waste plastics.

koreatimes.co.kr
Strategic tierCoreTypeStrategic or Co-development Partner
Description

Trafigura invested in Daphne Technology, which is developing technology to measure and reduce harmful GHG emissions (methane slip abatement) from industrial sources. Also participated in CHF 15M funding round (April 2026) led by Taranis with Shell Ventures and Trafigura.

Strategic tierMinorTypeStrategic or Co-development Partner
Description

Trafigura and Tether are in discussions regarding the use of USDT (stablecoin) in fuel stations.

Strategic tierCoreTypeStrategic or Co-development Partner
Description

Trafigura and World Fuel Services signed capacity reservation agreements with Syzygy Plasmonics for its light-driven photocatalytic sustainable aviation fuel (SAF) technology.

Strategic tierCoreTypeTechnology or Integration
Description

HD Hyundai Heavy Industries completed construction of the world's first two ammonia-powered gas carrier vessels ordered by Exmar, with delivery scheduled in 2026. Trafigura has secured orders for a total of eight ammonia-powered vessels from HHI.

Strategic tierCoreTypeStrategic or Co-development Partner
Description

French fuel distributor Rubis SCA is exploring a potential cash-and-share combination with Trafigura Group's fuel retail business Puma Energy in a deal that could value Puma Energy at up to €2.5 billion ($2.9 billion). Would expand Rubis's geographical reach beyond Europe, Africa and the Caribbean. Deliberations are ongoing.

Strategic tierMinorTypeStrategic or Co-development Partner
Description

I Squared Capital advanced to the second phase of bidding to acquire a $5 billion port in Brazil owned by Trafigura and Mubadala Capital. A consortium of Vale, Gerdau and M Resources also advanced. Porto Sudeste shipped a record 27.8 million tonnes of iron ore in 2025.

Strategic tierMinorTypeStrategic or Co-development Partner
Description

Shell's downstream fuel business in South Africa was offered to Trafigura (and others); ADNOC emerged as the frontrunner after Saudi Aramco, Trafigura and Gunvor all failed to close.

31Asian refiners (e.g., South Korean refiners, Reliance Industries)
Strategic tierCoreTypeChannel Partner/ Reseller/ Distributor
Description

Trafigura is selling Venezuelan oil to Asian markets including South Korea, Malaysia, and India. Delivered half a million barrels of Merey 16 crude to South Korea via supertanker Nissos Kea. Major buyers include Reliance Industries (India) and South Korean refiner GS Caltex.

business-standard.com
Recent move9 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight8 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

Glencore is the world's largest publicly listed commodity trader and miner, operating in metals, minerals, oil, and energy products with a similar trading-and-asset hybrid model. Direct overlap across oil/petroleum trading, copper/zinc mining (Nyrstar competitor), and energy transition investments (cobalt, hydrogen).

TypeDirect peer
Description

Vitol is the world's largest independent oil trader and a major energy and metals trader, headquartered in Geneva/Rotterdam. Comparable privately-held structure, scale (~50mm bbl/day of oil trading), and direct overlap in crude, refined products, and increasingly in power and LNG.

TypeDirect peer
Description

Mercuria is one of the largest privately held integrated energy and commodity trading houses, active in oil, gas, power, metals, and agricultural commodities. Comparable mid-size scale (~1.6mm bbl/day), privately-held employee-influenced structure, and similar diversification strategy across energy transition.

TypeDirect peer
Description

Gunvor is a leading independent commodity trading house specializing in oil, gas, and refined products trading, plus increasingly in power and renewables. Comparable privately-held structure, similar oil-focused trading volumes, and direct overlap in LNG and European gas markets.

TypeDirect peer
Description

Louis Dreyfus is one of the world's largest integrated commodity merchants, with leading positions in agricultural commodities plus metals and energy. Comparable privately-held family-influenced governance, global physical commodity trading platform, and similar transition into energy and metals.

TypeBroad incumbent
Description

Cargill is the largest privately held US company and one of the largest agricultural commodity traders globally, with growing energy and metals trading businesses. Comparable privately-held scale, supply chain financing capabilities, and overlap in physical commodity flows and prepayment structures.

TypeEmerging player
Description

Adani Enterprises is an Indian conglomerate with growing commodity trading and mining operations across coal, copper, aluminum, and renewables. Comparable in metals/coal trading flows, mining investments, and emerging position in critical minerals supply chains.

TypeBroad incumbent
Description

BP's integrated trading arm trades oil, gas, LNG, and increasingly power globally. Comparable oil/gas/power trading volumes, co-developed the Agora carbon emissions platform with Trafigura, and overlapping customer base among national oil companies and refiners.

TypeBroad incumbent
Description

Shell's integrated trading division is one of the largest oil/gas/LNG traders globally. Comparable in commodity trading scale, with overlap in LNG long-term offtakes, SAF investments (LanzaTech partner alongside Trafigura), and energy transition diversification.

TypeDirect peer
Description

Hartree Partners is a privately held global commodities trading firm active in oil, natural gas, power, metals, and environmental products. Comparable mid-size scale, privately-held employee-influenced structure, and similar expansion into power, carbon, and metals trading.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat7 records

Each record includes

Type, Details

Key risks7 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers24 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature8 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles12 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries14 records

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

Compliance7 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds15 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors11 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

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

M&A4 records

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment37 records

Each record includes

Name, Round, Announced date, Lead investor, Website, News

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

Trafigura

Commodity Tradingtrafigura.com

Trafigura is a privately-held, employee-owned commodity trading group founded in 1993, headquartered in Singapore, that sources, transports, stores, blends and delivers oil, metals, gas, power, carbon credits and renewables across 150+ countries via ~14,500 employees, 50+ offices and 5,250+ shipping voyages per year.

What Trafigura does

Trafigura Group Pte. Ltd. is a privately-held, employee-owned physical commodity trading company founded in 1993 and headquartered in Singapore, with approximately 14,500 employees, more than 1,400 employee-shareholders, and operations spanning 50+ offices and 150+ countries. The Group operates through seven core commercial divisions: Oil and Petroleum Products (6.6 million barrels/day to 2,000+ customers), Metals and Minerals (non-ferrous concentrates and refined metals plus iron ore, metallurgical and thermal coal — the latter under 5% of revenue), Gas and Power (39.6mmt+ of gas and LNG traded in 2025 plus >2 BCM European storage and licensed Brazilian power trading), Renewables and Hydrogen (MorGen Energy green hydrogen ecosystem targeting 3 GW by 2030), Carbon Trading (165Mmt+ volumes delivered annually across five regional hubs, 630,000+ ha nature-based removals footprint), Shipping and Marine Logistics (one of the world's largest vessel charterers with 5,250+ voyages/year and ~400 vessels on time-charter), and Logistics and Storage (Impala Terminals JV with IFM, Lobito Atlantic Railway concession, barge fleets on the Paraná-Paraguay Waterway).

The Group's technology and asset base combines physical infrastructure — owned/leased storage terminals, blending facilities, chartered and increasingly ammonia/methanol dual-fuel vessels, the 1,300 km Lobito railway concession to the DRC border, and a Texas power plant — with proprietary digital systems including the GoLow maritime carbon insetting programme, the Agora supply-chain carbon emissions platform (co-developed with bp and Ecopetrol), the Syzygy Plasmonics / Nth Cycle / Standard Lithium / Develop Global recycled-mineral offtake structures, and a venture portfolio across C-Zero, HY2GEN, OneH2, Zero Emission Industries, Malta Inc., Quidnet Energy, Bboxx, Daphne Technology, OXCCU and LanzaTech. Operating subsidiaries and JVs include Nyrstar (zinc/lead mining and smelting), Puma Energy (downstream fuels retail across emerging markets), Greenergy (acquired August 2024, UK/European biodiesel and road fuels), Impala Terminals (JV with IFM Investors), TFG Marine (bunker JV with Frontline and Golden Ocean), MorGen Energy, Nala Renewables (50% sold to IFM in May 2026), and Lobito Atlantic Railway.

Trafigura's revenue model is primarily transaction-based: it earns spreads between producer offtake and end-customer sale on physical commodities, supplemented by financing-linked offtake structures (prepayment facilities and debt-financed offtake with reference to LBMA/LME spot pricing), asset-level industrial earnings from operating subsidiaries (Nyrstar, Puma Energy, Greenergy, MorGen Energy, Impala Terminals, Nala Renewables), and freight/bunker revenues from third-party chartering. The business is funded through a three-pillar model combining short-term transactional facilities, securitisation programmes (Trafigura Securitisation Finance), and corporate credit facilities, supported by ~USD 75 billion in credit lines from ~150 banks. For H1 2026 (six months to 31 March 2026) the Group reported revenue of USD 141.9bn (vs USD 119.1bn in H1 2025), net profit of USD 4.1bn (third-best half-yearly result in its history), Underlying EBITDA of USD 7.9bn, group equity of USD 17.5bn and total assets of USD 111.3bn.

Trafigura firmographics

Firmographics
Name
Trafigura
Legal name
Trafigura Group Pte. Ltd.
Website
https://trafigura.com
Company type
Private
Founded year
1993
Operating status
Operating
Headcount range
5,001–10,000 employees
Short description
Trafigura is a privately-held, employee-owned commodity trading group founded in 1993, headquartered in Singapore, that sources, transports, stores, blends and delivers oil, metals, gas, power, carbon credits and renewables across 150+ countries via ~14,500 employees, 50+ offices and 5,250+ shipping voyages per year.
Ownership category
akta.pro rank

Trafigura industry classification

Industry
Product category
Commodity Trading
NAICS
Petroleum Bulk Stations and Terminals (424710), Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals) (424720), Petroleum and Petroleum Products Merchant Wholesalers (4247), Pipeline Transportation of Refined Petroleum Products (486910)
SIC
Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172), Arrangement Of Transportation Of Freight & Cargo (4731), Wholesale-Metals & Minerals (No Petroleum) (5050)
akta.pro primary industry
Liquefied Gas Transport (LNG/LPG/Ammonia) (TLADALAC)
akta.pro secondary industry
Liquid Bulk / Tanker Freight Brokerage (TLADAMAL)

Keywords

  • Commodity trading
  • Physical commodities supply
  • Oil and petroleum products
  • Metals and minerals trading
  • Shipping and logistics services

Where Trafigura is headquartered

Location

Headquarters

HQ city
Singapore
HQ country
Singapore
HQ region
Asia

Offices37 records

Markets served

Trafigura business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

  1. Oil and petroleum products trading: Physical trading of crude oil and refined products (gasoline, jet fuel, diesel, bitumen, fuel oil). Reported as 6.6 million barrels traded per day across 2,000+ customers. Revenues are transaction-based, earned on the spread between producer offtake and end-customer sale, supported by blending to specification and storage/logistics.
  2. Metals and minerals trading: Physical supply of non-ferrous concentrates and refined metals including aluminium, copper, zinc, nickel, cobalt, lithium, lead plus gold, silver, PGMs and by-products. Volumes are sourced from miners via prepayment/financing structures and sold to industrial customers; bulk commodities include iron ore and metallurgical/thermal coal (less than 5% of Group revenue).
  3. Gas and power trading: Traded 39.6mmt+ of gas and LNG in 2025; holds >2 BCM annual European gas storage capacity and trades power across 20+ countries. Long-term offtake deals (e.g., Cheniere, KOGAS, Tourmaline, SEFE) plus wholesale power trading (recently licensed in Brazil). Revenue mix combines physical and paper trading spreads.
  4. Carbon trading and removals: One of the largest carbon trading desks globally with 165Mmt+ volumes delivered annually across five regional hubs. Sells compliance-grade allowances, voluntary credits (Gold Standard, Verra, ACR, Climate Action Reserve), and nature-based/technology-based removal credits; develops projects across 630,000+ ha.
  5. Shipping and marine logistics services: One of the world's largest vessel charterers running 5,250+ voyages/year, ~400 vessels on time-charter; offers third-party freight services. Also operates TFG Marine bunker JV with Frontline and Golden Ocean. Revenue captured through freight rates, bunker margins and vessel sales.
  6. Asset-level industrial earnings (Puma Energy, Greenergy, Nyrstar, Impala Terminals, MorGen Energy, Nala Renewables): Earnings from owned/operated subsidiaries and JVs: Puma Energy fuels/lubricants/bitumen retail and storage; Greenergy road fuels and biodiesel; Nyrstar zinc/lead mining and smelting; Impala Terminals storage/logistics; MorGen Energy hydrogen; Nala Renewables renewable power. Generate hardware/asset sales, retail fuel margins, tolling fees and managed service revenue.
  7. Financing-linked trading (prepayment facilities, debt-financed offtake): Capital is deployed via prepayment facilities and debt financing tied to offtake (e.g., Heath Goldfields $65M, LaFleur C$30M, Denarius Metals $16M, Standard Lithium 10-year lithium carbonate offtake, Nth Cycle $1.1B, Syzygy Plasmonics 6-year SAF offtake, Develop Global USD400M). Returns captured via commodity supply at contracted pricing corridors and interest on financing.

Pricing tiers

ModelBillingPrice
Transaction based/ take rateMulti-year contractOfftake / prepayment financing contracts with pricing corridors tied to LBMA spot (e.g., $3,300–$4,000/oz gold at Heath Goldfields)
Unit PricingMulti-year contractLong-term lithium carbonate offtake at 8,000 t/yr for 10 years (Standard Lithium SWA Project)
Unit PricingMulti-year contract10-year recycled nickel and lithium carbonate offtake (Nth Cycle): 2,000 t/yr nickel + 1,500 t/yr lithium carbonate
Transaction based/ take rateMulti-year contract6-year binding SAF offtake (Syzygy Plasmonics) covering entire output of NovaSAF-1 Uruguay plant
OtherMulti-year contractWholesale power purchase agreements (PPAs) in Brazil — ANEEL-licensed power trading

Go-to-market motion1 record

Trafigura product offering

Product offering

Core offering

Trafigura is a physical commodity trading company that sources, transports, stores, blends and delivers crude oil and petroleum products, non-ferrous and bulk metals, natural gas and LNG, power, carbon credits, and related renewable and hydrogen products across global markets. The firm operates an integrated supply chain combining chartered vessels, owned/leased storage terminals (Impala Terminals JV), blending facilities, the Lobito Atlantic Railway corridor, and proprietary carbon and shipping platforms, serving industrial, mining, refining, utility and government customers in 150+ countries.

Product overview

Trafigura operates an integrated commodities platform spanning seven core commercial divisions — Oil and Petroleum Products, Metals and Minerals (including Iron Ore and Coal), Gas and Power, Renewables and Hydrogen, Carbon Trading, Shipping and Marine Logistics, and Logistics and Storage — that work together to source, transport, store, blend and deliver commodities to a global customer base. The platform is supported by a network of wholly-owned and joint-venture operating businesses including multi-metals producer Nyrstar, downstream fuel businesses Puma Energy and Greenergy (acquired 2024), terminals operator Impala Terminals (JV with IFM Investors), renewable power joint venture Nala Renewables, green hydrogen developer MorGen Energy, rail logistics concession Lobito Atlantic Railway, and marine fuel joint venture TFG Marine. Adjacent decarbonisation offerings include the proprietary GoLow maritime carbon insetting programme. Founded in 1993 and employee-owned with approximately 14,500 employees, the Group operates in more than 50 locations serving customers in over 150 countries.

Differentiator

Problem solved

Functional benefit

Brands

  • Greenergy: Established supplier and distributor of transportation fuels and leading European manufacturer of biodiesel from wastes, operating plants in the UK and Netherlands; markets in Ireland via Inver Energy and Amber Petroleum brands; Canadian operations acquired in 2024. Acquired by Trafigura in 2024.
  • Impala Terminals
  • Lobito Atlantic Railway
  • MorGen Energy
  • Nala Renewables
  • Nyrstar
  • Puma Energy
  • TFG Marine
  • Trafigura Securitisation Finance
  • GoLow

Products and services

  • Oil and Petroleum Products
  • Metals and Minerals
  • Gas and Power
  • Renewables and Hydrogen
  • Carbon Trading
  • Shipping and Marine Logistics
  • Logistics and Storage
  • GoLow Maritime Carbon Insetting Programme
  • Puma Energy
  • Greenergy
  • Nyrstar
  • Impala Terminals
  • MorGen Energy
  • TFG Marine
  • Lobito Atlantic Railway (LAR)

Quantifiable outcome

  • $141.9bn Group revenue in H1 2026 (up from $119.1bn in H1 2025)
  • +11 more outcomes

Companies that use Trafigura

Customer profile

Named customers24 records

Ideal customer profiles3 records

Trafigura technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature8 records

Trafigura partnerships and signals

Strategic signal

Partnerships

31 partnerships are on record, tiered flagship, core and minor.

  • Develop Global Limited (Australia)flagshipStrategic or Co-development Partner · 10 June 2026Final investment decisions on two Australian resource projects (Woodlawn and Sulphur Springs copper-zinc, and Pioneer Dome Lithium), alongside a USD400 million funding facility and a collaboration agreement with global commodities trader Trafigura.
  • NadaraflagshipStrategic or Co-development Partner · 20 May 2026Trafigura signed a 434 MW hybrid Power Purchase Agreement (PPA) with Nadara covering wind and solar facilities in Spain starting between 2027 and 2028. Includes 205 MW of solar added to existing wind farms. The largest off-take arrangement to date for Nadara and Trafigura's largest hybrid PPA.
  • Geo Energy Resources (Singapore) — Harfa Taruna Mandiri subsidiarycoreStrategic or Co-development Partner · 18 May 2026Trafigura signed two non-binding MoUs totaling up to US$100 million in prepayment to support Geo Energy's expansion into coking coal mining through Harfa Taruna Mandiri in Central Kalimantan, Indonesia. Includes an offtake arrangement for approximately 1.5 million tonnes annually and a 15-year mining services contract with East Wonders Indonesia (initial US$60 million). Initial feasibility studies estimate reserves of 15-20 million tonnes of premium hard coking coal.
  • Enterprise Générale du Cobalt (EGC, DRC) and EVelution EnergyflagshipStrategic or Co-development Partner · 13 May 2026Tripartite MOU signed in Madrid (May 13, 2026) to establish a long-term U.S.–DRC cobalt supply chain. EVelution Energy's Arizona facility targeted to process material covering ~40% of projected U.S. cobalt demand. Builds on December 2025 U.S.–DRC strategic critical minerals agreement; leverages the Lobito Atlantic Railway to reduce inland transit times to ~seven days. Construction of EVelution's facility targeted to begin early 2027 and complete by end of 2029. Parties also intend to explore local DRC cobalt refining capacity, EGC minority equity in EVelution, and technical training for Congolese teams.
  • Syzygy Plasmonics (Houston)flagshipStrategic or Co-development Partner · 11 May 2026Binding 6-year offtake agreement with commodities trading firm Trafigura covering the entire output of Syzygy Plasmonics' first commercial plant NovaSAF-1 in Uruguay, with deliveries targeted from 2028. Plans to scale production to 1 million tons of SAF annually by 2035 through projects in Brazil, the Dominican Republic, Mexico, and North America.
  • MorGen Energy (wholly-owned Trafigura subsidiary) — Njordkraft projectflagshipStrategic or Co-development Partner · 8 May 2026MorGen Energy awarded a conditional EUR 422.75 million grant from the European Hydrogen Bank under the EU Innovation Fund for its Njordkraft green hydrogen project in Esbjerg, Denmark. Project features 300MW electrolyser capacity (scalable to 1GW), targeting ~45,500 tonnes/year RFNBO-compliant renewable hydrogen for delivery to industrial customers in Germany and mainland Europe.
  • Egyptian Aluminium Company (Egyptalum) and Metallurgical Industries Holding Company (MIH)flagshipStrategic or Co-development Partner · 6 May 2026Term sheet signed May 6, 2026 establishing exclusive negotiations for a major aluminium smelter project at the Nag Hammadi complex in Upper Egypt: a 300,000 tpa primary smelter and a 150,000 tpa anode plant with estimated $750M-$900M investment. Trafigura to participate as minority investor, debt provider, and counterparty for long-term raw material supply and production off-take agreements.
  • Trafigura Beheer BV (planned re-domicile to Bermuda)flagshipOthers · 6 May 2026Trafigura Group plans to re-domicile its key holding company Trafigura Beheer BV from the Netherlands to Bermuda. The entity was originally used by former employees of Marc Rich + Co to establish Trafigura in 1993 and served as the group's parent until a 2015 restructuring made a Singaporean entity the new parent.
  • LaFleur Minerals (Beacon Gold Mill / Swanson Deposit, Québec)flagshipStrategic or Co-development Partner · 15 April 2026Non-binding term sheet for C$30 million prepayment facility and gold offtake agreement with Trafigura. Trafigura has right of first refusal for future funding to expand mill capacity to 3,000-4,000 tpd. Subject to due diligence and regulatory approval.
  • Heath Goldfields Ltd (Ghana)flagshipStrategic or Co-development Partner · 9 April 2026Trafigura signed a gold doré offtake agreement for 700,000 ounces from the Bogoso-Prestea Gold Mine in Ghana's Western Region and provided USD65 million in debt financing to support the restart of the mine's oxide ore operations. Marks Trafigura's first transaction in Ghana's gold sector and its second African gold deal following Sierra Leone (December 2025). The mine completed its first gold pour in February 2026 after a two-year production hiatus.
  • Nth Cycle (US refiner)flagshipStrategic or Co-development Partner · 8 April 2026$1.1 billion 10-year offtake agreement for 2,000 metric tons/year of recycled nickel and 1,500 metric tons/year of lithium carbonate from battery black mass processing. Materials will be sourced from two facilities under development in South Carolina and the Netherlands, both expected to begin operations in 2028. Deal reflects shift among commodity traders to secure recycled critical mineral supplies alongside traditional mining.
  • H2 Energy Europe AGflagshipStrategic or Co-development Partner · 15 November 2023Trafigura increased its shareholding in H2 Energy Europe AG to become the majority owner, supporting large-scale green hydrogen projects and infrastructure development in Europe. The companies plan to build hydrogen facilities in Denmark (1 GW) and Wales (20 MW), with significant projects progressing and final investment expected in 2024 (Wales FID achieved March 2026).
  • IFM InvestorsflagshipStrategic or Co-development PartnerJoint venture partner with Trafigura in Impala Terminals (45+ storage/logistics assets in 29 countries). Also JV partner in Nala Renewables; in May 2026 IFM agreed to acquire Trafigura's remaining 50% equity interest in Nala Renewables, taking full ownership.
  • Frontline and Golden Ocean (TFG Marine JV)coreStrategic or Co-development PartnerTFG Marine is a joint venture between Trafigura, Frontline and Golden Ocean supplying 10+ million metric tonnes of marine fuels annually. CMB.TECH increased its stake and committed to sourcing bunker fuel through the JV (May 2026).
  • Lobito Atlantic Railway consortiumflagshipStrategic or Co-development PartnerTrafigura is part of a consortium awarded a 30-year concession to operate the 1,300km Lobito railway across Angola to the DRC border, plus a minerals terminal. Provides a quicker western route to market for Congolese Copperbelt metals and minerals.
  • Cheniere (US LNG producer)coreStrategic or Co-development PartnerLong-term 15-year LNG Sale and Purchase Agreement with Cheniere (signed 2018) — a first for an independent commodity company. Trafigura is also a long-term offtake partner for SEFE (Securing Energy for Europe), supplying large gas volumes to Germany over four years (USD3bn Federal Republic of Germany loan-backed facility).
  • Frontline and Golden Ocean (TFG Marine)flagshipStrategic or Co-development PartnerTFG Marine alliance between Trafigura and shipping companies Frontline and Golden Ocean — supplies over 10 million metric tonnes of marine fuels annually from strategic hubs across the world.
  • Denarius Metals (Zancudo Project, Colombia)coreStrategic or Co-development PartnerPrepayment facility upsized from US$9M to US$16M (with US$3.5M cash received under the Third Advance, 3,000,000 common share purchase warrants issued to Trafigura). Long-term offtake agreement; shipments of 2,337 tonnes containing 863 oz gold and 20,237 oz silver in Q1 2026. Commissioning of 1,000 t/day processing plant expected Q3 2026.
  • Standard Lithium (South West Arkansas Project)flagshipStrategic or Co-development Partner10-year binding offtake agreement with Trafigura Trading LLC covering over 40% of total targeted offtake for the South West Arkansas Project — 8,000 metric tonnes per year of battery-quality lithium carbonate over 10 years from commercial production.
  • Tsingshan Holding Group (Weda Bay Indonesia aluminium smelter)flagshipStrategic or Co-development PartnerChinese tycoon Xiang Guangda, through Tsingshan Holding Group, is in advanced talks with Trafigura (alongside Mercuria and Glencore) to secure minority stake investments in a $3 billion, 800,000-ton aluminium smelter at Weda Bay in Indonesia. Proposed deal would give traders a share of output while providing Tsingshan with Western credibility.
  • Mercuria Energy Group (peer/competitor)minorStrategic or Co-development PartnerCo-participant with Trafigura and Glencore as cornerstone investors in the Hong Kong listing of Indonesian gold miner PT Merdeka Gold Resources (HK$2.4bn / $305M raise). Also together with Trafigura and Glencore as potential minority stakeholders in Tsingshan's $3B Weda Bay aluminium smelter.
  • Glencore (peer) and Mercuria Energy GroupcoreStrategic or Co-development PartnerCornerstone investors alongside Trafigura in the Hong Kong listing of Indonesian gold miner PT Merdeka Gold Resources (raise of up to HK$2.4bn / $305M). Also potential co-investors with Tsingshan in Indonesian aluminium smelter.
  • WAVE Jeongeup / City Oil Field (Korea)coreStrategic or Co-development PartnerSales contract covering the entire output of naphtha-grade recycled feedstock from the WAVE Jeongeup facility — Korea's first overseas export of recycled feedstock produced with domestically developed technology. 4,550 tons annually of ISCC PLUS-certified recycled feedstock. Trafigura is the first global commodities company to purchase ISCC PLUS-certified naphtha-grade recycled feedstock from waste plastics.
  • Daphne Technology (Switzerland)coreStrategic or Co-development PartnerTrafigura invested in Daphne Technology, which is developing technology to measure and reduce harmful GHG emissions (methane slip abatement) from industrial sources. Also participated in CHF 15M funding round (April 2026) led by Taranis with Shell Ventures and Trafigura.
  • TetherminorStrategic or Co-development PartnerTrafigura and Tether are in discussions regarding the use of USDT (stablecoin) in fuel stations.
  • World Fuel Services (SAF partner)coreStrategic or Co-development PartnerTrafigura and World Fuel Services signed capacity reservation agreements with Syzygy Plasmonics for its light-driven photocatalytic sustainable aviation fuel (SAF) technology.
  • HD Hyundai Heavy Industries (South Korea)coreTechnology or IntegrationHD Hyundai Heavy Industries completed construction of the world's first two ammonia-powered gas carrier vessels ordered by Exmar, with delivery scheduled in 2026. Trafigura has secured orders for a total of eight ammonia-powered vessels from HHI.
  • Rubis SCA (potential Puma Energy combination)coreStrategic or Co-development PartnerFrench fuel distributor Rubis SCA is exploring a potential cash-and-share combination with Trafigura Group's fuel retail business Puma Energy in a deal that could value Puma Energy at up to €2.5 billion ($2.9 billion). Would expand Rubis's geographical reach beyond Europe, Africa and the Caribbean. Deliberations are ongoing.
  • I Squared Capital (Porto Sudeste bidder)minorStrategic or Co-development PartnerI Squared Capital advanced to the second phase of bidding to acquire a $5 billion port in Brazil owned by Trafigura and Mubadala Capital. A consortium of Vale, Gerdau and M Resources also advanced. Porto Sudeste shipped a record 27.8 million tonnes of iron ore in 2025.
  • ADNOC (potential acquirer of Puma Energy stake / Shell South Africa retail)minorStrategic or Co-development PartnerShell's downstream fuel business in South Africa was offered to Trafigura (and others); ADNOC emerged as the frontrunner after Saudi Aramco, Trafigura and Gunvor all failed to close.
  • Asian refiners (e.g., South Korean refiners, Reliance Industries)coreChannel Partner/ Reseller/ DistributorTrafigura is selling Venezuelan oil to Asian markets including South Korea, Malaysia, and India. Delivered half a million barrels of Merey 16 crude to South Korea via supertanker Nissos Kea. Major buyers include Reliance Industries (India) and South Korean refiner GS Caltex.

Scale indicators24 records

Recent moves9 records

Expansion highlights8 records

Trafigura competitors and assessment

Company assessment

Direct peers

  • Glencore: Glencore is the world's largest publicly listed commodity trader and miner, operating in metals, minerals, oil, and energy products with a similar trading-and-asset hybrid model. Direct overlap across oil/petroleum trading, copper/zinc mining (Nyrstar competitor), and energy transition investments (cobalt, hydrogen).
  • Vitol: Vitol is the world's largest independent oil trader and a major energy and metals trader, headquartered in Geneva/Rotterdam. Comparable privately-held structure, scale (~50mm bbl/day of oil trading), and direct overlap in crude, refined products, and increasingly in power and LNG.
  • Mercuria Energy Group: Mercuria is one of the largest privately held integrated energy and commodity trading houses, active in oil, gas, power, metals, and agricultural commodities. Comparable mid-size scale (~1.6mm bbl/day), privately-held employee-influenced structure, and similar diversification strategy across energy transition.
  • Gunvor Group: Gunvor is a leading independent commodity trading house specializing in oil, gas, and refined products trading, plus increasingly in power and renewables. Comparable privately-held structure, similar oil-focused trading volumes, and direct overlap in LNG and European gas markets.
  • Louis Dreyfus Company: Louis Dreyfus is one of the world's largest integrated commodity merchants, with leading positions in agricultural commodities plus metals and energy. Comparable privately-held family-influenced governance, global physical commodity trading platform, and similar transition into energy and metals.
  • Hartree Partners: Hartree Partners is a privately held global commodities trading firm active in oil, natural gas, power, metals, and environmental products. Comparable mid-size scale, privately-held employee-influenced structure, and similar expansion into power, carbon, and metals trading.

Broad incumbents

  • Cargill: Cargill is the largest privately held US company and one of the largest agricultural commodity traders globally, with growing energy and metals trading businesses. Comparable privately-held scale, supply chain financing capabilities, and overlap in physical commodity flows and prepayment structures.
  • BP plc (BP Trading): BP's integrated trading arm trades oil, gas, LNG, and increasingly power globally. Comparable oil/gas/power trading volumes, co-developed the Agora carbon emissions platform with Trafigura, and overlapping customer base among national oil companies and refiners.
  • Shell plc (Shell Trading): Shell's integrated trading division is one of the largest oil/gas/LNG traders globally. Comparable in commodity trading scale, with overlap in LNG long-term offtakes, SAF investments (LanzaTech partner alongside Trafigura), and energy transition diversification.

Emerging players

  • Adani Enterprises: Adani Enterprises is an Indian conglomerate with growing commodity trading and mining operations across coal, copper, aluminum, and renewables. Comparable in metals/coal trading flows, mining investments, and emerging position in critical minerals supply chains.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

Trafigura social profiles

Digital presence

Trafigura compliance and trust

Trust signal

Compliance7 records

Trafigura financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Trafigura leadership team

Management profile

Number of profiles

Profiles12 records

Trafigura subsidiaries and ownership

Company hierarchy

Subsidiaries14 records

Trafigura funding detail

Funding detail

Funding overview

Funding rounds15 records

Investors11 records

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

Trafigura M&A and investment

M&A and investment

M&A4 records

Investments37 records

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

Frequently asked questions about Trafigura

What does Trafigura do?

Trafigura is a physical commodity trading company that sources, transports, stores, blends and delivers crude oil and petroleum products, non-ferrous and bulk metals, natural gas and LNG, power, carbon credits, and related renewable and hydrogen products across global markets. The firm operates an integrated supply chain combining chartered vessels, owned/leased storage terminals (Impala Terminals JV), blending facilities, the Lobito Atlantic Railway corridor, and proprietary carbon and shipping platforms, serving industrial, mining, refining, utility and government customers in 150+ countries.

Is Trafigura a public or private company?

Trafigura is a private company. It is classified as management employee owned and is currently operating.

When was Trafigura founded?

Trafigura was founded in 1993. It employs 5,001 to 10,000 people.

Where is Trafigura based?

Trafigura is headquartered in Singapore, Singapore, in the Asia region.

How does Trafigura make money?

Seven revenue lines are on record. Oil and petroleum products trading is the primary driver. The others are metals and minerals trading, gas and power trading, carbon trading and removals, shipping and marine logistics services, asset-level industrial earnings (Puma Energy, Greenergy, Nyrstar, Impala Terminals, MorGen Energy, Nala Renewables) and financing-linked trading (prepayment facilities, debt-financed offtake).

Who are Trafigura's main competitors?

Direct peers on record are Glencore, Vitol, Mercuria Energy Group, Gunvor Group, Louis Dreyfus Company and Hartree Partners. Broad incumbents are Cargill, BP plc (BP Trading) and Shell plc (Shell Trading). Adani Enterprises is listed as an emerging player.

Does Trafigura have an API?

No public API is recorded for Trafigura.

What industry is Trafigura in?

Trafigura's product category is Commodity Trading. Its primary akta.pro industry code is TLADALAC, Liquefied Gas Transport (LNG/LPG/Ammonia), with a secondary code of TLADAMAL, Liquid Bulk / Tanker Freight Brokerage. Its NAICS code is 424710 and its SIC code is 5171.

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CNBCSupertanker chartered from Gulf Coast to China for $76 million, 10 times higher than pre-war levelA supertanker was chartered from the U.S. Gulf Coast to China for $76 million, ten times the pre-war rate of $7-10 million. The charter, by Trafigura, is expected to load around Nov. 19, with costs reaching $38 per barrel. The surge stems from tanker shortages due to the Middle East war.Seeking AlphaSFL to sell seven oil tankers to Trafigura in $275M deal (SFL:NYSE)SFL Corp. disclosed the sale of seven oil tankers to Trafigura, including four LR2 product tankers and three Suezmaxes. The company estimated net cash proceeds of $275M and a book gain of about $175M. The vessels were already on time charter to Trafigura, with charter termination in Q4 2026 and Q1 2027.Quiver QuantitativeSFL Corporation Agrees to Sell Seven Tankers to Trafigura for Expected $275 Million Net Proceeds | SFL Stock NewsSFL Corporation agreed to sell seven tankers to Trafigura, with deliveries in late 2026 and early 2027. The company expects net cash proceeds of about $275 million and a book gain of $175 million. Proceeds will be reinvested in new accretive investments to build long-term distribution capacity.Investing.comSFL to sell seven tankers to Trafigura for $275 millionSFL Corporation announced the sale of seven tankers to Trafigura, generating estimated net cash proceeds of about $275 million after profit share and debt repayment. The vessels, including four LR2 and three Suezmax tankers, are on time charters and will be delivered in 2026-2027. SFL expects to reinvest the proceeds in new investments.Stock TitanSFL Agrees to Sell 7 Tankers; Estimates ~$275M Net ProceedsSFL agreed to sell seven tankers to Trafigura, with delivery in Q4 2026 and Q1 2027, terminating existing charters. Net cash proceeds are estimated at approximately $275 million, with an aggregate book gain of about $175 million. The company plans to reinvest the proceeds in new investments to build long-term distribution capacity.BloombergTrafigura Buys Seven Oil Tankers From SFL as Shipping Costs RiseTrafigura Group acquired seven oil tankers from SFL Corp., a New York-listed company. The purchase follows disruptions in the Strait of Hormuz and Red Sea risks, which have driven charter rates up and prompted a rush to buy tankers.ReutersRefinerías independientes chinas aumentan compras de petróleo iraquí ante caída de suministros iraníes: operadoresChinese independent refiners are increasing purchases of Iraqi and Qatari crude for October and November deliveries to replace scarce Iranian supplies. They bought at least 12 million barrels from Mercuria, Totsa, and Trafigura, with total purchases estimated between 15 and 20 million barrels, at premiums of $12 to $20 per barrel over Brent.Lloyd's ListVolare Shipping shares rise on Oslo debut after $500m tanker IPOVolare Shipping shares rose on its Oslo debut after a $500m private placement valued the VLCC owner at $1.2bn. The company owns six VLCCs and has eight ammonia-ready newbuildings on order, with Trafigura retaining a majority stake. Investors are backing a long-term tanker story centred on energy security, trade disruption and demand for strategic freight capacity.ReutersVolare Shipping LtdVolare Shipping Ltd, the shipping arm of commodity trader Trafigura, raised $500 million via a private placement and listed in Oslo. The company cites soaring tanker rates from Strait of Hormuz disruption as an investment rationale, though a return to pre-2022 freight costs could reduce returns.The future of tradingOrvana unit EMIPA extends Trafigura US$ 25 million prepayment facility maturity to June 2027Orvana's Bolivian unit EMIPA amended its $25 million secured prepayment facility with Trafigura, extending final maturity by six months to June 2027 from December 2026. The revised timing aims to better match repayments with the production ramp-up at the Don Mario Oxides Stockpile Project.