(Oil Price) – U.S. President Donald Trump supervises the release of funds from sales of Venezuela’s oil, an official at the U.S. Administration told Semafor on Thursday. Following the capture of Venezuelan leader Nicolas Maduro early this month, President Trump moved to create a fund to hold revenues from sales of Venezuela’s oil. The money is being held in U.S. accounts and released at the
(Oil Price)– Commodity trading major Vitol will provide $2 billion in loans for the Ugandan government, to be used for energy infrastructure projects, including a refinery, Reuters has reported, citing a Ugandan government official. The 60,000-barrel-daily facility is one of the key infrastructure projects related to the East Africa Crude Oil Pipeline that will carry Ugandan crude to the East
(Oil Price) – Eni has completed the sale of 30% in the giant operational Baleine oil and gas project offshore Cote d’Ivoire to the world’s biggest independent oil trader, Vitol, the Italian energy major said on Thursday. The Baleine project is Cote d’Ivoire’s main offshore development and after the transaction is now owned by Eni with a 47.25% stake, Vitol with 30%, and
(Investing) – NEW YORK – Global commodities trader Vitol is exploring a sale of its VTX Energy Partners business, in a deal that could value the U.S. shale oil and gas producer at as much as $3 billion, including debt, people familiar with the matter said. The move aims to capitalize on the fact that the VTX oil and gas business
(Oil Price) – Crude oil demand will remain at current levels over the next 15 years at least, commodity trading major Vitol has forecast, shattering earlier predictions from outlets such as the International Energy Agency that has consistently been predicting peak oil demand growth before 2030. Demand for crude is set to rise further in the coming years, to peak at
(World Oil) – LandBridge today announced it has entered into a purchase and sale agreement to acquire approximately 46,000 largely contiguous surface acres in the Southern Delaware Basin known as the Wolf Bone Ranch for total consideration of $245 million in cash from VTX Energy Partners, a subsidiary of Vitol. Located adjacent to LandBridge’s existing surface acreage in Reeves County, Texas,
Yahoo Finance HOUSTON – Oil prices dipped for a second straight day on Tuesday, as talks for a ceasefire in Gaza continued, but losses were limited to less than a dollar a barrel as Egyptian and Qatari mediators met resistance in their search to find a way out of the war. The talks in Cairo, also attended by the director
Nasdaq MILAN, March 5 (Reuters) – Vitol-backed energy storage company VTTI is close to acquiring a majority stake in Italy’s biggest liquefied natural gas import terminal from Exxon Mobil XOM.N and QatarEnergy, two sources with knowledge of the matter said on Monday. The deal, which sources previously said could value the entire terminal at about 800 million euros ($868 million), would give VTTI a role in
Nasdaq LONDON – As the world’s top global energy trading houses prepare for their biggest annual industry get-together this week in London they face a growing problem, what to do with their cash. Most trading houses, which are privately owned and controlled by their employees, disclose little about their cash position, equity or dividends. But according to more than 10
World Oil (Bloomberg) — Vitol Group, the world’s largest independent oil trader, is partnering with shale specialists who formerly led Brigham Exploration Co. to expand amid the highest crude prices in seven years. The trader and Austin, Texas-based driller ATX Energy Partners LLC formed VTX Energy Partners LLC to acquire wells in the Permian and Bakken shale regions, according to
Reuters QUITO/RIO DE JANEIRO – Ecuadorian state-run oil company Petroecuador is weighing a lawsuit against Vitol after the world’s largest oil trader admitted last week to bribing officials in the South American country, according to two sources with direct knowledge of the matter. Petroecuador is working with the nation’s attorney general to assess how much the Vitol-led graft scheme cost
Reuters MEXICO CITY – Mexican President Andres Manuel Lopez Obrador said on Thursday his government will investigate allegations bribes were paid by the U.S. subsidiary of the world’s largest independent oil trader Vitol to state oil firm Petroleos Mexicanos (Pemex). Lopez Obrador, speaking at a news conference, said the accusations by the U.S. Justice Department related to bribes allegedly paid
