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ENERGY & UTILITIES
bbenergy.com

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About BB Energy

BB Energy is an energy trading company with experience in trading, operations, chartering, logistics, storage, refining, and financing.

BB Energy Headquarters Location

BB House 12-14 Ansdell Street

London, England, W8 5BN,

United Kingdom

+44 (0) 20 7938 0500

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BB Energy Web Traffic

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Page Views per Million (PVPM)
Reach per Million (RPM)
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BB Energy Rank

Latest BB Energy News

Petroecuador Declares Force Majeure on Russian Diesel Delivery

Mar 24, 2022

1:13 AM IST, 24 Mar 2022 12:24 AM IST, 24 Mar 2022 1:13 AM IST, 24 Mar 2022 Save (Bloomberg) -- Ecuador’s state oil company EP Petroecuador declared force majeure on two cargoes of Russian diesel after banks declined to provide financing to pay for them following the invasion of Ukraine. (Bloomberg) -- Ecuador’s state oil company EP Petroecuador declared force majeure on two cargoes of Russian diesel after banks declined to provide financing to pay for them following the invasion of Ukraine. The ships are the last of eight that BB Energy had agreed to supply to Ecuador after participating in a competitive bidding process held in December. The vessels were already en route to the South American nation when the war broke out and banks all over the world began to shun financing of any Russian cargoes. Petroecuador was unable to secure funding for the previously-agreed deals after the U.S. imposed sanctions on Russia, according to the company’s oil trading manager, Pablo Noboa. The case highlights the challenges faced by companies trying to navigate sanctions at a time when diesel prices are rising to multi-year highs across the globe as countries snub Russian energy products, forcing traders to scramble for supplies from elsewhere. Petroecuador also informed all suppliers of fuels that it won’t be able to accept cargoes of Russian origin, according to a March 16 letter obtained by Bloomberg. “The cargoes were bought and loaded before the war broke out,” Noboa said in an interview. “It’s clear to us that BB Energy wasn’t at fault.” The two vessels -- Ardmore Sealancer and Vendome Street -- which have been bobbing off the coast of Ecuador for a week, may be able to discharge soon after BB Energy agreed to ease payment conditions, Noboa said. Ecuador, which doesn’t produce enough fuels to meet its domestic demand, imports diesel oil for power generation, industrial use, ship fuel and also as a diluent to make fuel oil. BB Energy, the largest supplier of fuels to Ecuador after Trafigura Group Pte Ltd and Freepoint Commodities LLC, agreed to an open credit arrangement with deferred payment in order to deliver the cargoes, Noboa said. The two vessels loaded at the Russian port of Nakhodka between Jan. 26 and Feb. 11, carrying a combined 560,000 barrels, and are expected to discharge at Ecuadorian ports between next week and early April, Noboa added. (For more: See RSAN for an overview of Russia/Ukraine news, data and research.) ©2022 Bloomberg L.P.

BB Energy Acquisitions

2 Acquisitions

BB Energy acquired 2 companies. Their latest acquisition was Solarcentury - Africa on April 14, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

4/14/2021

$99M

Acquired Unit

1

3/28/2017

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$99M

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10

Date

4/14/2021

3/28/2017

Investment Stage

Companies

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Valuation

$99M

$99M

Total Funding

Note

Acquired Unit

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Sources

1

10

BB Energy Partners & Customers

1 Partners and customers

BB Energy has 1 strategic partners and customers. BB Energy recently partnered with komgo on October 10, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

10/11/2021

Vendor

Switzerland

Global Trade Review (GTR) BB Energy secures first US borrowing base facility with Komgo

Global energy trader BB Energy has signed its first US borrowing base facility , worth US$ 500mn , in partnership with Swiss trade finance fintech Komgo .

1

Date

10/11/2021

Type

Vendor

Business Partner

Country

Switzerland

News Snippet

Global Trade Review (GTR) BB Energy secures first US borrowing base facility with Komgo

Global energy trader BB Energy has signed its first US borrowing base facility , worth US$ 500mn , in partnership with Swiss trade finance fintech Komgo .

Sources

1

BB Energy Team

3 Team Members

BB Energy has 3 team members, including current Chief Executive Officer, Mohamed Bassatne.

Name

Work History

Title

Status

Mohamed Bassatne

Chief Executive Officer

Current

Jacques Erni

Chief Financial Officer

Current

Hatice Tulum

Turkish Bank, and Colgate-Palmolive

Chief Operating Officer

Current

Name

Mohamed Bassatne

Jacques Erni

Hatice Tulum

Work History

Turkish Bank, and Colgate-Palmolive

Title

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Status

Current

Current

Current

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