Latest news with #LPG
Yahoo
13 hours ago
- Business
- Yahoo
BGN Group: An Innovative Energy Company Whose Time Has Come
BGN's 'North Gas,' a 230-meter Very Large Gas Carrier, which carries LPG and other offtakes from BGN's U.S. suppliers. (Courtesy BGN) By Exec Edge Editorial Staff BGN Group may not be an everyday presence in Americans' lives the way more familiar energy companies are, but it may soon be, thanks to recent investments. The company, a global energy and commodities business, is now the largest offtaker of Liquified Petroleum Gas (LPG) in the US. LPG, a cleaner-burning fuel that offers a practical alternative to coal and oil, is a fast-growing market that was estimated to be worth $145 billion globally in 2025. BGN is a far-reaching and expanding presence in the global energy and commodities trading sector, operating in 120 countries around the world. And, from its North American headquarters in Houston, the company is poised to expand its presence and raise its U.S. profile. 'We are committed to partnering with American energy innovators to deliver reliability, affordability, and sustainability for the next generation,' said Ruya Bayegan, the group's chairwoman. The family-owned, multi-generational energy and commodities business is based in Geneva. In addition to Houston, it has operations in Dubai, Casablanca, Doha, Rotterdam and Singapore. It operates through its two main subsidiaries, BGN International (BGN Int.) and BGN Energy, each specializing in distinct areas of the energy market. Bayegan has been instrumental in shaping the company's strategic direction and driving its growth. With a background in executive roles within family businesses, she has led BGN since its inception, expanding its operations and establishing offices in key global locations. BGN Int. serves as the trading arm of BGN Group, focusing on the storage and transportation of petroleum products, petrochemicals and other commodities worldwide. It has an extensive network of refineries, producers, state oil companies and international traders. BGN Int. also deals in minerals and carbon credits and is one of the sector's largest LPG traders. It also has the world's largest LPG fleet and has access to crude in South America, USGC, Canada, the North Sea, the Mediterranean, the Middle East, the Far East and Africa BGN Energy, the investment and development arm of BGN Group, focuses on midstream and upstream energy projects, supports the energy transition and enhances the group's trading activities. BGN Energy's core areas include upstream oil production and development of renewable energy with the goal of generating significant renewable capacity by 2030. It also deals in transition fuels, including trading in liquefied petroleum gas (LPG), liquefied natural gas (LNG), and sustainable aviation fuel (SAF). With more than 38 vessels under management, BGN moves 10 percent of the global LPG trade. The group's Houston headquarters serves as a hub for the company's activities in North America, focusing on trading, investment and development projects. The office's strategic location in one of the world's leading energy centers allows BGN to stay at the forefront of industry developments and maintain close relationships with key stakeholders. BGN Group has built its success on a foundation of strategic partnerships and relationships with key players across the energy value chain. These include partnerships with refineries and producers, state oil companies, international traders, industrial and petrochemical companies, renewable energy projects and with organizations working to achieve net-zero carbon targets. BGN Group views its participation in sustainable development as both a duty to society and an opportunity to achieve positive outcomes for its stakeholders. The company has diversified its commodity trading portfolio, investing in lower-carbon-emitting products and renewable energy projects. Bayegan's vision for the company includes pioneering a safe and secure energy transition and helping others achieve their net-zero emissions targets. BGN's approach to sustainability is embedded in its core strategy and operations. This includes reducing CO2 emission from fossil fuels through operational efficiencies and investing in cleaner fuels and biofuels as part of its expanding trading and investment portfolio BGN's track record of achieving double-digit billion-dollar revenues and annual trading of 50 million metric tons of commodities, along with its global network of strategic partnerships, demonstrates operational excellence and financial resilience. The company's commitment to transparency, regulatory compliance and stakeholder engagement positions it as a trusted partner for U.S. industry leaders navigating the evolving energy landscape. BGN Group's commitment to innovation and sustainability, coupled with its strategic investments in renewable energy and transition fuels, ensures its continued growth and relevance in the global energy sector. The company's focus on expanding its core business and embracing new technologies will drive its future success. Contact: Editor@ Sign in to access your portfolio
Yahoo
21 hours ago
- Business
- Yahoo
BW LPG Ltd (BWLP) Q1 2025 Earnings Call Highlights: Navigating Market Volatility with Strategic ...
Release Date: May 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. BW LPG Ltd (NYSE:BWLP) reported a TC income of $39,800 per available day, exceeding their guidance of $36,000 per day. The company declared dividends of $0.28 per share, translating to an annualized dividend yield of 10%. BW LPG Ltd (NYSE:BWLP) successfully concluded a Japanese Joelco lease for one vessel and is in the final stages of refinancing a $380 million bank loan. The company reactivated its share buyback program, which positively impacted the share price. BW LPG Ltd (NYSE:BWLP) achieved a TCE per calendar day of $38,800, demonstrating strong performance in a volatile market. BW LPG Ltd (NYSE:BWLP) reported a net loss after tax of $12.5 million for the first quarter due to a downward adjustment in the valuation of unrealized positions. The company decided to discontinue its involvement in the LPG import terminal outside Mumbai due to increased geopolitical risks. The US-China tariff war led to a halt in US-China LPG trade, causing freight rates to stumble. The company faced a gross loss of $4 million in its product services segment due to market valuation changes. BW LPG Ltd (NYSE:BWLP) experienced a sharp drop in spot rates from $40,000 per day to $10,000 per day within three days due to Chinese import tariffs. Warning! GuruFocus has detected 5 Warning Signs with BWLP. Q: Why did BW LPG decide to exit the LPG import terminal project in India? A: CEO Christian Sorensen explained that the decision was due to the challenging market environment and geopolitical turmoil. The company decided to focus on its core value drivers, which are shipping and trading, rather than the terminal investment, which was a relatively modest investment compared to the balance sheet. Q: Is BW LPG open to continuing share buybacks if stock prices fall again? A: CEO Christian Sorensen stated that while the main way to return value to shareholders is through dividends, the company has renewed its share buyback program. The program can be reactivated when the directors find it timely, but dividends will remain the primary method of returning value. Q: Does BW LPG have extension options on its existing time charter contracts? A: CEO Christian Sorensen noted that some time charters have options, but they are on the charterer's side, not BW LPG's. The company aims to increase the share of time charters in its shipping portfolio but will do so at attractive levels. Q: How did the tariff turmoil affect BW LPG's trading operations, and is there visibility on Q2 results? A: CEO Christian Sorensen refrained from commenting specifically on the trading portfolio due to its dynamic nature. A new trading update will be provided in mid-July, which will give more insight into the second quarter's status. Q: What is the confidence level for the product service's Value at Risk (VAR)? A: CFO Samantha Xu confirmed that the confidence level for the product service's VAR is 95%. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malaysiakini
a day ago
- Business
- Malaysiakini
Domestic LPG ban in eateries will burden consumers, DAP Youth warns
DAP Youth has urged the government to postpone a ban on the use of household liquefied petroleum gas (LPG) in eateries, warning that the move could burden consumers as food operators will be forced to raise their prices. DAP Youth public policy bureau chief Jason Ng highlighted that the price of commercial LPG is nearly three times higher than its domestic counterpart, with many small eateries and hawkers still relying on subsidised gas to conduct their businesses.
Trade Arabia
2 days ago
- Business
- Trade Arabia
ITFC, TDFD in deal to deliver clean cooking solutions in Nigeria
The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has signed a multilateral financing and implementation agreement to support the Forward7 initiative in Nigeria. The agreement brings together ITFC, the Trade Development Fund (TDFD -Managed by ITFC), the Oil Sustainability Program (OSP), and BURN Manufacturing, and was signed at the Ministry of Energy headquarters in Riyadh. The initiative aims to manufacture and distribute 20,000 liquefied petroleum gas (LPG) cooking kits to low-income households in Nigeria. Each kit comprises a gas cylinder, stove, and essential accessories, alongside training to ensure safe and sustainable use. The signing ceremony was held in the presence of Prince Abdulaziz bin Salman Al Saud, Minister of Energy of the Kingdom of Saudi Arabia, and Dr Muhammad Al Jasser, Chairman of the Islamic Development Bank Group. The agreement was signed by Eng Adeeb Y Al-Aama, CEO of ITFC and Chairman of the Executive Committee of TDFD, Eng. Mohammed bin Haitham Al-Tayyar, representative of the Forward7 initiative, and Lev Herrom, Chief Financial Officer of BURN Manufacturing. Additionally, a separate commitment agreement was signed between Eng Abdulrahman Bin Sulaiman, CEO of GASCO, and Eng Adeeb Y Al-Aama in his capacity as Chairman of the Executive Committee of TDFD. Under this agreement, TDFD will be responsible for receiving and managing allocated funds from all partners and disbursing them to the executing entity. This project is a direct translation of the kingdom's commitment to the Middle East Green Initiative launched in 2021, and marks the first official project under the Forward7 umbrella, which seeks to expand access to clean cooking solutions across the Least Developed Countries. – TradeArabia News Service
Al Bawaba
2 days ago
- Business
- Al Bawaba
The International Islamic Trade Finance Corporation (ITFC) and the Trade Development Fund (TDFD) Sign Landmark Agreement with Oil Sustainability Program and BURN Manufacturing to Deliver Clean Cooking Solutions in Nigeria
The International Islamic Trade Finance Corporation (ITFC) ( a member of the Islamic Development Bank (IsDB) Group, signed a multilateral financing and implementation agreement to support the Forward7 initiative in Nigeria. The agreement brings together ITFC, the Trade Development Fund (TDFD) (Managed by ITFC), the Oil Sustainability Program (OSP), and BURN Manufacturing, and was signed at the Ministry of Energy headquarters in Riyadh. The initiative aims to manufacture and distribute 20,000 liquefied petroleum gas (LPG) cooking kits to low-income households in Nigeria. Each kit comprises a gas cylinder, stove, and essential accessories, alongside training to ensure safe and sustainable signing ceremony was held in the presence of HRH Prince Abdulaziz bin Salman Al Saud, Minister of Energy of the Kingdom of Saudi Arabia, and H.E Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank Group. The agreement was signed by Eng. Adeeb Y. Al-Aama, CEO of ITFC and Chairman of the Executive Committee of TDFD, Eng. Mohammed bin Haitham Al-Tayyar, representative of the Forward7 initiative, and Mr. Lev Herrom, Chief Financial Officer of BURN a separate commitment agreement was signed between Eng. Abdulrahman Bin Sulaiman, CEO of GASCO, and Eng. Adeeb Y. Al-Aama in his capacity as Chairman of the Executive Committee of TDFD. Under this agreement, TDFD will be responsible for receiving and managing allocated funds from all partners and disbursing them to the executing project is a direct translation of the Kingdom's commitment to the Middle East Green Initiative launched in 2021, and marks the first official project under the Forward7 umbrella, which seeks to expand access to clean cooking solutions across the Least Developed Countries. The collaboration also builds on a Memorandum of Understanding signed between OSP and ITFC during the 2024 Annual Meetings of the IsDB Group, reaffirming the partners' joint commitment to achieving Sustainable Development Goal 7—ensuring access to affordable, reliable, sustainable, and modern energy for the project includes direct support for household LPG refills over a period of eight years, funded through anticipated revenues from carbon credits generated by the clean cooking kits. Through collaborative efforts, the partners successfully reduced the cost of each kit by 63%, significantly improving affordability and access for target communities. This partnership presents an innovative development model that combines grant-based funding, carbon credit mechanisms, and public-private collaboration. It also demonstrates the capacity of multilateral institutions to develop scalable, sustainable solutions. The initiative serves as a model that can be replicated across other OIC member states, transforming clean cooking access from an aspirational goal into a tangible development outcome.
