Global commodities trader Glencore has acquired a majority stake in Dutch fuel supplier FincoEnergies, the Dutch company revealed on Monday, with industry sources noting that the trader intends to use the acquisition to expand its Northwest European footprint in fuel markets.
FincoEnergies is a leading independent supplier of sustainable fuels and decarbonization services, helping transport companies cut emissions with ready-to-use solutions like GoodFuels biofuels, GoodShipping programs, and FuelEU Pooling, enabling them to meet sustainability goals and transition to a cleaner energy future.
Back in July, Glencore raised its long-term Marketing Adjusted EBIT (Earnings Before Interest and Tax) guidance to a range of $2.3 billion to $3.5 billion per year from the previous range of $2.2 billion to $3.2 billion, which had been in place since 2017. Key drivers for the improved guidance include growth in its core metals and energy businesses, including entry into new markets and expansion of product lines such as LNG, alumina, steelmaking coal, and lithium, as well as the completion of the sale of its Viterra agricultural business to Bunge.
Meanwhile, Glencore’s trading (marketing) business is performing solidly and in-line with expectations for through-cycle profits, with its metals trading division achieving record profits in the first half of 2025 that largely offset a significant drop in energy trading profits.
Overall Marketing Adjusted EBIT for H1 2025 clocked in at $1.4 billion, good for 8% decrease compared to H1 2024, a result the company considered solid given macroeconomic volatility. Energy Trading (oil, gas, and coal) had a very weak half, with adjusted EBIT of only $40 million, the lowest result since 2010. This was attributed to a return to more “normal” market conditions after the extreme volatility of 2022-2023, which had generated windfall profits. In contrast, Metals Trading continues to be a bright spot, delivering a record high adjusted EBIT of $1.57 billion in H1 2025, driven by favorable copper market conditions and regional supply disruptions.
By Alex Kimani for Oilprice.com
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