Vitol

Oil & Gas

At London’s oil week, clues about demand will be all around

Oil traders are gathering in London for what’s normally a week of lavish parties, dealmaking and market chatter. China’s coronavirus means this year’s events will be more subdued – and fewer in number – than usual. The talk will be about absent friends and uncertain demand.

Oil & Gas

Vitol, Carlyle to announce Varo Energy IPO this week

Oil trader Vitol Group and buyout firm Carlyle Group are set to announce plans for an initial public offering of their European refiner and service-station operator Varo Energy BV as early as Monday, according to people familiar with the matter.

Renewables/Energy Transition

NEC announce 50MW of UK energy storage projects

NEC Energy Solutions (NEC ES), a wholly-owned subsidiary of NEC Corporation, announced today it has completed the commissioning of a total of 50 MW of energy storage projects in the UK with VLC Energy, a joint venture between Low Carbon, a renewable energy investment company, and VPI Immingham, owner of one of the largest combined heat and power plants in Europe and part of the Vitol Group.