Trafigura is an employee-owned commodity trading and logistics group founded in 1993. Its parent company, Trafigura Group Pte Ltd, is based in Singapore and its trading operations are centred on Geneva, with press releases issued from both cities. The group reports operations in more than 150 countries, around 14,500 employees and more than 1,400 employee shareholders, and it manages a fleet of roughly 500 vessels, of which about 250 are oil tankers.
What the group trades and moves
The trading divisions cover oil and petroleum products, metals and minerals, gas, power and renewables, and carbon. Trafigura sources crude and refined fuels from producers and refiners for industrial and retail customers, works with miners on metals and minerals supply, supplies natural gas, LNG and electricity, invests in hydrogen and renewable power, and offers carbon products and supply chain emissions measurement to customers. Around those flows sits a logistics network of ships, barges, trucks, rail and pipelines, plus storage, blending and processing infrastructure that matches cargoes to customer specifications. Trafigura also sells maritime and freight services to third parties.
Results for the year to September 2025
Trafigura published its financial year 2025 results on 9 December 2025, covering the twelve months to 30 September 2025. Net profit was USD 2,666 million, about three per cent below the previous year, and underlying EBITDA exceeded USD 8 billion for a fourth consecutive year. Group equity stood at USD 16,172 million, more than 20 per cent of total assets of USD 79,494 million. The Energy segment, which includes oil and petroleum products, gas, power, renewables, associated freight and operating assets, generated revenue of USD 166,980 million, some 70 per cent of group revenue, and an operating profit before depreciation and amortisation of USD 6,091 million. Metals and Minerals produced revenue of USD 73,288 million and operating profit before depreciation and amortisation of USD 2,016 million. Traded volumes of oil and petroleum products, including natural gas and LNG, reached 358 million metric tonnes, an average of 7.6 million barrels per day and about ten per cent above the prior year, while non-ferrous metals volumes fell 11 per cent and bulk minerals 17 per cent as the segment favoured profitable flows. Impairments totalled USD 843 million, including USD 340.5 million of fixed asset charges linked to Nyrstar Australia, the Myra Falls mine, the closure of Greenergy's Immingham plant and other assets.
Shipping and the new Volare platform
In September 2026 Trafigura established Volare Shipping Ltd., a Singapore-incorporated group company that owns and operates VLCCs under Trafigura's commercial management. Volare started with six VLCCs in the water and eight newbuilds on order, and disclosed a private placement of about USD 500 million alongside a proposed listing on Euronext Growth Oslo, with trading expected to begin on or around 5 October 2026 under the ticker VLCC and Trafigura remaining majority owner. On full delivery in October 2028 the fleet will number 14 modern VLCCs with an average age of about three years and ammonia-ready dual-fuel capability. Andrea Olivi, Trafigura's global head of shipping, chairs the Volare board, and Alexandre Duff is chief executive of Volare.
Industrial businesses inside the group
- Nyrstar, a multi-metals producer with zinc and other smelting operations.
- Puma Energy, the fuel storage and distribution business.
- Greenergy, a supplier and distributor of transportation fuels and biofuels.
- Impala Terminals, a storage and logistics joint venture.
- MorGen Energy and the Nala Renewables joint venture, which hold the group's lower-carbon investments.
Controls, board and management
Richard Holtum is chief executive and Stephan Jansma is chief financial officer; Saad Rahim is chief economist. During financial year 2025 Trafigura strengthened its risk management framework and internal controls after an external review of serious misconduct by individuals in its Mongolian oil business, rolling out policy, process and oversight changes supported by a global training programme. Chris Afia was appointed chief risk officer, and the executive committee was widened in July 2025 to include Jiri Zrust, global head of operating assets, and Igor Marin, global head of gas, power and renewables. Sergio Rial joined the board as an independent non-executive director from 1 January 2026, while Andrew Vickerman retired from the board in December 2025 after 15 years.
2026 activity and contacts
Announcements during 2026 include the first carbon removal credits verified by the Paracel carbon forestry project in September, the launch of Volare Shipping, the appointment of Hervé Otschudi as executive director for the Democratic Republic of Congo in August, Trafigura's first power transaction in Brazil in July, the appointment of Josh Presley as head of corporate finance and, also in July, the acquisition of the Los Guindos power plant in Chile with Generadora Metropolitana.
General enquiries go to [email protected], listed on the contact page, and media enquiries to [email protected] or the press office on +41 22 592 4528.