Thousands of dollars in bribe payments from oil trader Vitol Group were handed over to a Mexican oil official in a Houston parking lot, a federal jury in Brooklyn, New York, heard on Monday.
Engen has 1,300 service stations in seven sub-Saharan states and islands of the Indian Ocean. Combining Engen with Vivo gives the group more than 3,900 service stations and more than 2 billion litres of storage capacity. It will have presence in 27 African countries.
Wentworth has said cashflows in 2023 will be much reduced - making now an ideal time to sell out to partner Maurel.
Nigerian National Petroleum Corp. (NNPC) has bought OVH Energy Marketing, owner and operator of Oando-branded retail stations.
Cameroon has renegotiated its refinery debt with trader Vitol, bringing it into line with an agreement reached last year with domestic banks.
A Ghanaian court has ordered the government to halt payments to Eni and Vitol, amidst the ongoing legal dispute with local company Springfield Exploration & Production.
Oil prices have fallen to levels that don’t reflect the risk of disruptions to Russian exports or the ability of China to keep the coronavirus pandemic under control, according to the world’s biggest independent crude trader.
Oil prices could be set for a “prolonged period” above $100 a barrel over the next six to nine months, with the world setting fresh demand records this year, said Vitol Group chief executive Russell Hardy.
Oil prices, already up around 20% this year, could be boosted by China potentially replenishing its inventories and financial investors increasing their long positions, according to Vitol Group.
Wentworth Resources has signed a memorandum of understanding (MoU) with Vitol to offset emissions in Tanzania.
Tellurian has signed a sale and purchase agreement with Vitol for the supply of 3 million tonnes per year.
Trader Vitol sees its future in lying in the power sector, in a marked shift away from its oil roots.
As a trio of women is set to ascend to the top of one of the world’s most powerful oil-trading operations, the gender gap in the rest of the industry remains stark.
Oil and gas firm Chrysaor is seeking permission to store carbon dioxide in a depleted southern North Sea gas reservoir.
Eni has called for more clarification on Ghana’s order for unitisation of the Sankofa field with Springfield Exploration and Production’s Afina field.
Adnoc and Total have celebrated the first delivery of unconventional gas from the Ruwais Diyab concession.
Demand in Europe and the US may have peaked already, the heads of three trading companies have said, but growth will be sustained by Asia.
The United Bank for Africa (UBA) has participated in a consortium to lend $1.5 billion to Nigerian National Petroleum Corp. (NNPC) and its upstream Nigerian Petroleum Development Co. (NPDC) unit.
Vitol’s former chairman and CEO Ian Taylor has died, the trading company has confirmed.
As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still.
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 bounced back from a one-year low in New York but the emergence of a glut since the coronavirus outbreak loomed over the market as traders looked to store excess crude on tankers.
Total Gas & Power has signed a sales and purchase agreement (SPA) with Nigeria LNG (NLNG) for 1.5 million tonnes per year.
Vivo Energy has acknowledged it is being investigated in Morocco over its part in the country’s fuel retail sector.
Vitol has signed a sale and purchase agreement (SPA) with Nigeria LNG (NLNG), for some production from Trains 1, 2 and 3.