The August announcement stated that Vitol had agreed to acquire Noble Resources Trading Limited for an purchase price equivalent to $0.63 per share on a debt free / cash free basis subject to customary conditions precedent.
Vitol Group and Glencore Plc. are considering acquiring New Fortress Energy Inc.’s Jamaican LNG assets, according to people familiar with the matter.
Vitol is eyeing the metals market with global petroleum demand expected to peak in a decade, signaled Russell Hardy, CEO of Vitol, the world’s largest independent energy trader.
Indian refiners are expecting tankers of Venezuelan crude from Vitol, media reported on Tuesday, after Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals (MRPL) purchased 2 million barrels of Venezuelan crude for November delivery. This is part of a broader trend, as India continues to increase imports from Venezuela after the U.S. Treasury allowed transactions under specific conditions despite ongoing sanctions targeting President Nicolas Maduro’s regime.
Giant trading houses and trading desks of integrated oil majors have taken advantage of the extreme volatility in oil and energy prices to make a killing in the markets.
Last month, Singapore-based oil and commodities trading powerhouse Trafigura Group posted the smallest profit since 2020 after oil price volatility dropped to multi-year lows.
Europe’s oil majors are feeling the heat, too, with both BP and Shell Plc warning of impending profit declines at their trading divisions.
Global energy companies including Vitol, Africa Oil Corp. and ERHC Energy Inc. will showcase Africa’s premier energy sector opportunities at the Invest in African Energy reception in London this week, organized by the African Energy Chamber (AEC) (https://EnergyChamber.org). The reception serves to catalyze investor interest in Africa’s energy prospects ahead of the African Energy Week: Invest in African Energy conference in Cape Town this November, showcasing the potential of the African energy market and exploring strategies to unlock its full potential.
Energy and commodities company Vitol will participate at the Angola Oil&Gas (AOG) 2024 conference (https://apo-opa.co/4b9OwCw) – scheduled for October 2-3 in Luanda – as a silver sponsor. The sponsorship demonstrates the company’s dedication to fueling the expansion of the Angolan oil and gas market by leveraging its extensive expertise and services.
The Competition Tribunal has approved the proposed acquisition of petrol station brand Engen by independent energy marketing and trading company Vitol Emerald, subject to a set of competition and public interest conditions.
Energy trader’s earnings mean another year of large payouts for senior partners
Accra, 22 May 2023 – Eni Ghana on behalf of its OCTP partners, Vitol Upstream Ghana Ltd (Vitol) and Ghana National Petroleum Corporation (GNPC), together with Ghana Enterprises Agency (GEA), have provided entrepreneurship and small business management training for over 900 beneficiaries.