Vitol response to FERC decision

Vitol Inc. regrets the FERC’s decision to issue an Order to Show Cause against it and denies all of FERC’s allegations.  Vitol believes that its conduct was lawful and intends to defend itself in the appropriate forum. The post Vitol response to FERC decision appeared first on Vitol. Vitol News

Vitol renames C&N Ethanol Marketing to Vitol Biofuels Marketing

Vitol announced today that it has renamed C&N Ethanol Marketing to Vitol Biofuels Marketing. The name change reflects Vitol’s continued commitment to developing its market leading ethanol business, both as part of its growing renewables portfolio and as a key component of its core gasoline offering. Tom Smith of Vitol Biofuels Marketing commented: “Our new name, Vitol Biofuels Marketing, will enable us to build upon C&N’s long-held reputation for excellence,

CHAT with TELL |  EU #pricing transformation

Mechanisms for pricing EU natural gas may not be as they seem. Join Thierry Bros, VP of #Research at #Tellurian and Senior Research Fellow at the #Oxford Institute for #Energy Studies while he discusses the transformational European market. Watch on YouTube Follow us on Twitter @TellurianLNG Program outline 01:00 – Evolution of natural gas pricing in the EU 02:00 – From oil index to spot – similar story during financial

Vitol announces discovery offshore Ghana

Vitol today announces a gas and condensate discovery in CTP-Block 4 offshore Ghana by a consortium comprising Vitol (33.975%), Eni (operator – 42.469%), GNPC (10%), Woodfields Upstream (9.556%), Explorco (4%). At present, gross discovered volume ranges are under review but could be in excess of 550BCF gas and 18mmbbl of condensate. The well was drilled 50km offshore Ghana and 12 km north west of the production vessel for the existing

Vitol 2018 volumes and review

Vitol 2018 volumes and review Highlights: • Crude oil and product volumes increase to 7.4 million barrels per day • IPOs for Viva Energy and Vivo Energy • Re-acquisition of 50% of VTTI (with IFM Investors) • First investment in Brazilian downstream sector Statement from Russell Hardy, Group CEO, Vitol: Vitol’s performance in 2018 was stable. Traded volumes of crude oil and products rose to 7.4 million barrels per day

Vitol to integrate asphalt trading business

Vitol today announced it has agreed to acquire a further 50% of VALT, the bitumen joint-venture it established with Sargeant Marine in 2016. On completion, VALT will be 100% owned by Vitol and will be integrated into Vitol’s core trading business. The acquisition will make Vitol a leader in the trading, storage and marine transportation of asphalt products around the world, with a dedicated fleet of eleven specialised vessels. Volumes

Komipo and Vitol sign LNG Memorandum of Understanding

Korea Midland Power Co Ltd (KOMIPO) and Vitol Asia Pte Ltd (Vitol) have jointly announced the signing of a Memorandum of Understanding (MOU) to explore upstream, midstream and downstream project opportunities in liquefied natural gas (LNG). Under an existing long-term Supply and Purchase Agreement (SPA), signed in 2015, Vitol agreed to supply KOMIPO with 400,000 tons of LNG annually for 10 years. Mr Hyung Koo Park, President and CEO of

Vitol and IFM complete acquisition of VTTI

Further to its announcement of 2 November 2018, Vitol today announces that Vitol Investment Partnership II Ltd (“VIP”), an investment vehicle sponsored and managed by Vitol, and IFM Investors (“IFM”), a global institutional funds manager, have completed the acquisition of Buckeye Partners LP’s 50% equity interest in VTTI BV, the leading global independent provider of energy storage. VTTI is now owned 50% by IFM and 50% by Vitol and VIP.

Vitol and partners complete first Community Investment Strategy project in Ghana

In January 2015, Eni, Vitol and Ghana National Petroleum Corporation (GNPC) signed an agreement with the national authorities for the development of an integrated oil and gas project, Offshore Cape Three Points (OCTP), helping to provide the necessary energy to speed up the economic growth of the country. To help communities affected by and in the vicinity of the OCTP project, Vitol, Eni and GNPC are committed to a Community

Vitol and Petronas announce binding Heads of Agreement for long-term LNG SPA

PETRONAS through its subsidiary, PETRONAS LNG Ltd (PLL) and Vitol Asia Pte Ltd (Vitol) announced the signing of binding Heads of Agreement (HOA) for long-term liquefied natural gas (LNG) sale and purchase (SPA) agreement.  Under the terms of the agreement signed on 1 October 2018, the LNG supply to Vitol commencing in 2024 will be approximately up to 0.8 million tonnes per annum for a period of up to 15 years on both Delivered