A former Petroleo Brasileiro SA oil trader who went by the code name “Phil Collins” told a Brazilian judge he received bribes from Vitol Group to favor the firm in contracts with the crude producer, court documents show.
Abu Dhabi is taking steps to cement its position as a reliable supplier through the launch of the Murban Futures contract.
Africa Oil will go it alone in the acquisition of stakes in major fields offshore Nigeria after its partners, Delonex Energy and Vitol Investment Partnership, both withdrew.
Oil price predictions always end in disaster but complacency in the market poses a number of risks, given global uncertainty.
Vitol and Mozambique’s state-owned Empresa Nacional de Hidrocarbonetos (ENH) have set out plans for a trading-focused joint venture.
Oil traded near a two-week low as an increase in U.S. fuel stockpiles spurred concern that demand is waning in the world’s biggest crude consumer.
Two years after the U.K.’s largest natural gas storage site slipped into retirement, demand for new places to keep the fuel is ratcheting up.
The world’s largest energy trader says oil prices are set to rally further as OPEC output cuts and American sanctions on Iran and Venezuela cause a "shortage" of the low-quality heavy crudes refiners rely on.
Dutch-founded oil firm Vitol has announced a £177 million renewable energy fund aimed at generating investment in renewable energy assets in Europe.
For oil traders, there’s no place quite like Saldanha Bay. When prices slumped in 2014, trading houses generated outsize profits by storing millions of barrels of crude in the deep-water harbor north of Cape Town.
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.
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.
Houston-based Hilcorp Energy and international energy trader Vitol are teaming up to potentially build a new crude export terminal in Corpus Christi.
Embattled commodity trader Noble Group Ltd. agreed to sell most of its oil-liquids business to Vitol Group to help pare down debt, while warning that it’s set to post a net loss of more than $1 billion for the third quarter as its access to financing remains constrained.
Vitol Group’s negotiations to buy Noble Group Ltd.’s oil trading unit are “very complicated” and may not end in a deal, the chief executive officer of Vitol said, adding to pressure on his Hong Kong-based rival.
Vitol Group BV, the trader that shipped the first cargo of U.S. crude after export restrictions ended in late 2015, predicts the country’s oil exports will grow “a lot more” because of rising production in Texas.
Kuwait Energy said today that it had inked a forward sale agreement with Vitol that will provide it with a financing facility of up to $100million.
Vitol Group posted a 42 percent decline in first-half profit as the world’s largest independent oil trader grappled with fewer opportunities to benefit from energy-market price swings.
The chief executive of Vitol said the oil market may see supply and demand rebalance if both Russia and OPEC deliver a meaningful production cut.
A major Tory donor reportedly nominated for a knighthood in David Cameron’s proposed resignation honours has withdrawn his name from the list amid accusations of cronyism.
It wasn't a normal business trip, even for Ian Taylor. Over an almost 40-year career in oil, the Oxford-educated Brit had set down in plenty of hot spots, from Tehran to Caracas, Baghdad to Lagos. Yet this journey—destination Benghazi, Libya, in the midst of a civil war—was different.
Oil markets are signaling that prices have bottomed out even as growth in demand for crude is forecast to slow this year, according to a senior executive at Vitol Group, the world’s largest independent oil trader.
Top executives at the world’s largest oil-trading houses said the worst of the market’s woes are probably over, with some predicting prices will climb to $50 a barrel by next year.
Vitol and Seplat Petroleum are among nine companies bidding to construct new oil refineries in Nigeria as Africa’s top crude producer seeks to boost output of refined fuel and end its dependence on imports, an official said.
A consortium comprising GNPC, Explorco, Vitol, Eni and Woodfields, has been awarded a new exploration licence offshore Ghana.