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Kuwait seeks to set up energy trading venture says reportOpec member Kuwait plans to start trading energy and not just producing it, joining other Middle Eastern producers eager to claw back some of the profit traders like Vitol Group and Glencore earn by buying and selling the region’s oil. More… |
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Vitol wins Iran’s $1bn oil supplies finance dealNetherlands-based Vitol Group, a global oil trader, has won a $1.04 billion deal with Iran to provide financing in exchange for future supplies of refined products, a report said. Vitol to lend money to the National Iranian Oil Co More… |
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No tighter oil market before 2018, says Vitol chiefThe chief executive of Vitol, the world's largest oil trader, said on Wednesday he did not see the global oil market tightening before 2018. Ian Taylor also expressed scepticism over the significance of a potential OPEC deal o More… |
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Oil firms rush to exploit end of US crude export banUS energy group Enterprise and oil trader Vitol raced to exploit the end of a 40-year ban on most US crude exports, the first of many firms eager to "stress test" last week's historic opening. Despite a sudden change More… |
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Kazmunaygas seeks up to $3bn in advance payments from VitolKazakh state-owned oil and gas company KazMunayGas plans to receive up to $3 billion from trader Vitol in the form of advance payments for crude shipments from the Tengiz oilfield, KazMunayGas said in a statement on Wednesday. &nb More… |
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Moroccan refinery's debts highlight oil sector lending dangersWhen Morocco's only oil refinery suspended production in early August due to financial difficulties, it owed $450 million to trading houses, including Glencore, Vitol and BB Energy, according to traders and refinery sources familiar with t More… |
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Vitol sees oil struggling to top $60 by end-2016Vitol, the world's largest oil trader, believes the crude price will struggle to trade above $60 a barrel next year, as the effects of slowing global demand growth could be compounded by a return of Iranian and maybe even Libyan barrels. More… |
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Vitol may shift Swiss HQ over steep taxOil trader Vitol could move its headquarters from Geneva if Switzerland increased taxes on big commodity traders, and others would do the same, said the company's managing director. "We could - and we wouldn't be the More… |
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Steep fall in oil prices likely says top trader VitolOil prices could drop by as much as $15 per barrel should countries such as Libya restore production and sanctions on Iran be eased, forcing some of the most expensive US oil projects to stop pumping, the head of the world's largest oil trad More… |
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Vitol apologises for Kurdish oil buy says IraqTop oil trader Vitol has apologised to the Iraqi government for buying Kurdish oil that was exported via Turkey without Baghdad's permission, Iraqi Oil Minister Abdul-Kareem Luaibi said. Bag More… |
