CVR Energy has entered into a definitive agreement with subsidiaries of Marathon Petroleum to acquire Marathon’s St. Paul Park, Minnesota and Mandan, North Dakota refineries, along with Marathon’s related marketing business, for a total purchase price of approximately $4.2 billion, plus net working capital. Global commodity trader Trafigura has signed strategic agreements with CVR Energy to support the acquisition. As part of this, Trafigura will subscribe for $800 million of new CVR shares to acquire a minority stake – and when the deal is completed Trafigura will become the exclusive supplier of crude oil to the acquired refineries and enter […]

Following its recent expansion into South Korea, the Fratelli Cosulich Group has further extended its marine energy network with the opening of a new office in Tokyo, Japan. ‘Japan is one of the world’s most important shipowning markets, and having a direct presence in Tokyo is a significant opportunity for us,’ said Timothy Cosulich, CEO of Marine Energy at Fratelli Cosulich Group. ‘Building relationships locally makes a real difference in our business. Following our recent expansion into South Korea, this new office gives us another base in the Far East, allowing us to work more closely with the Japanese maritime […]

Envision has provided green ammonia for the bunkering of the Terra Clove, the world’s first Very Large Ammonia Carrier (VLAC) equipped with dual-fuel ammonia propulsion and operated by Eastern Pacific Shipping (EPS). As reported by ship.energy, on 22 October the vessel was named at HD Hyundai Heavy Industries (HHI) in Ulsan, South Korea. The 93,000 cubic metre (cbm) capacity VLAC is EPS’ first ammonia dual-fuelled vessel and the first ammonia dual-fuelled commercial newbuild vessel to be registered under the Singapore Registry of Ships (SRS). It is equipped with Everllence’s first commercial ammonia dual-fuelled two-stroke marine engine, which completed factory acceptance […]