Wellbred Trading, a commodities trader based in Singapore, has acquired the French refinery La Nivernaise de Raffinage SAS, which processes used cooking oil as feedstock. The company intends to increase production capacity next year, leveraging the rising demand for renewable-based refined products. CEO Ghazi Abu al-Saud emphasized that the acquisition strengthens Wellbred’s engagement in the renewable energy sector and aligns with the company’s growth strategy within this critical part of its value chain.

Located in Premery, the 60,000 mt/year refinery is Wellbred’s first, producing biodiesel that can be used in both road and marine transportation. Simon Lausch, managing director of Wellbred and President of the refinery, highlighted the growing opportunities in the French marine industry, particularly with the implementation of B30 fuel standards. He noted that the demand for biofuels in the marine sector is experiencing significant growth.

According to Platts, part of Commodity Insights, the price for B30 bunker fuel—a blend of 70% low-sulfur fuel oil and 30% used cooking oil methyl ester—was recorded at $774.25/mt in Rotterdam on August 7, up from $754.75/mt at the end of last year.

Wellbred, which operates out of Geneva, Dubai, and Lagos, secured approval to purchase the plant in an auction on July 20, conducted by the commercial court of Nevers, France. The French refinery will function under the company’s renewables division based in Geneva.

Since starting its renewables division in 2022, Wellbred Trading has been supplying biofuels to markets in Norway and Sweden. Its recent focus has been on expanding into the shipping industry, and the French acquisition will enable Wellbred to begin trading feedstocks and distributing biodiesel in France, Germany, and Spain.

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