Alkagesta sends another right of reply

Alkagesta has sent a very pathetic right of reply full of fairy tales, which I am publishing here only for legal reasons not because their reply has any merit. Their main point is that they “are complaint.” Sure, and my dog promised me he will not chase other animals when he is out and I 100% believe the dog.

This is the second time that Alkagesta is sending a right of reply. You can read their previous right of reply here.

For the those who lack a basic understanding of the commodities and oil markets, allow me to explain something which concerns Alkagesta’s most stupid lie: that they grew organically out of successful arbitrage trades. The great success from the arbitrage trade story is a very common fairy tale in the world of finance – it raises red flags and it is often never a sufficient explanation for large growth.

The commodity market is a very insular, opaque and tightly controlled market by a very few number of established players. No one comes out of nowhere and starts trading commodities to eventually become the largest oil bunkerer in an important port-island in the Mediterranean Sea: for that to happen you need contacts, established players in the market who give you access and tonnes of liquidity running up to hundreds of millions of Euros to execute spot trades and delivery of product.

Alkagesta is definitely and 100% backed by a hidden and major and established commodity player. There is absolutely no doubt about this.

Reply below. 

“On Recent Defamatory Allegations –
https://themalteseherald.com/2025/08/14/alkagesta-investigated-by-the-uk-and-eu-authorities-over-russian-oil-sales-to-libya/

Geneva, Switzerland – 15 August 2025

We have recently observed a series of defamatory attacks and false
allegations directed at Alkagesta. These claims are entirely unfounded,
misleading, and contrary to the facts. Alkagesta has always operated in
full compliance with all applicable international laws, regulations, and
sanctions imposed by the United States, United Kingdom, European Union,
and United Nations.

Over the past eight years, our consistent growth, unwavering commitment
to transparency, and role in strengthening Malta’s position in global
trade may have, unfortunately provoked envy and attracted the hostility
of certain competitors. Such actions are regrettable and run counter to
the principles of fair competition.

Alkagesta began its commodity trading journey in 2018 in Malta with a
clear mission: to bridge the gap between key bunkering hubs—Malta,
Greece, Turkey—and landlocked regions such as Central Asia. This
vision was successfully realized, and we have since expanded into the
ARA region and Singapore, becoming one of the leading players in the
Mediterranean market. What was once a modest bunkering hub, Malta
has—through Alkagesta’s strategic growth—emerged as a central
pillar of the Global Marine Cargo ecosystem.

Malta’s status as an EU member state has fostered a robust environment
for business growth, underpinned by stringent regulatory and compliance
frameworks. Alkagesta currently operates through the Evos Terminal and
Delimara onshore storage facilities, meaning all EU and Maltese laws
apply. The Maltese government has established a rigorous vetting process
for any cargo entering onshore terminals, requiring approvals from:

* Transport Malta
* Terminal Authority
* Customs Authority
* Sanctions Monitoring Board

Only after receiving clearance from all four entities can cargo be
discharged, ensuring complete compliance and transparency.

We are deeply concerned by reports of illegal activities occurring in
so-called “Offshore Malta” zones, which are not governed by Maltese
law and have no affiliation whatsoever with Alkagesta. These offshore
operations must not be confused with legitimate, regulated onshore
trade.

Moreover, Maltese authorities have proactively introduced additional
safeguards to prevent any smuggling of Libyan-origin cargo. Any Libyan
crude oil entering Malta must:

* Originate exclusively from the Libyan National Oil Corporation (NOC)
* Be supported by an official email from the NOC confirming the
transaction and quantities
* Be submitted to the Sanctions Monitoring Board at
sanctions.mftp@gov.mt for verification

These measures provide assurance to Alkagesta and our banking partners,
reinforcing Malta’s reputation as a secure and fully compliant trading
hub.

Alkagesta remains steadfast in its values, its reputation, and its
long-term growth strategy in Malta. We will continue to strengthen
Malta’s role as the heart of the Mediterranean market and a
cornerstone of global trading flows.

For media inquiries, please contact:Media@alkagesta.com”

***************

Thank you.

Cordially,

Dr Jacob Daniel Portelli  LL.B. (Hons.),  M.Adv (Melit.), LL.M. (LJMU)

Vincent Micallef & Associates

22/9, Vincenti Buildings, Strait Street, Valletta, VLT 1432, Malta –
Europe.

T  +356 2149 3839     M  +356 7900 2032   www.vmlegal.mt