Vitol's 2017 Traded Oil Volumes Edged Lower
Traded oil volumes edge lower, remain above 7 mln b/d. The world's largest oil trader Vitol said on Monday that its traded crude and products volumes fell slightly in 2017 as it focused on its mid and downstream acquisitions and added assets in the United States by acquiring Noble Group's oil business. The total volume was 349 million tonnes…
Vitol Bets on Retail Model as it Hopes to Grow
Vitol invests in gas stations from Turkey to Pakistan; increases presence in growing consumer markets. From Pakistan to Turkey, the world's largest independent oil trader Vitol is betting on a spike in gasoline and diesel demand in young and growing nations by snapping up filling stations that disappointed oil companies are prepared to sell.
Saudi Aramco in Lead to Buy OMV's Turkish Unit Petrol Ofisi
Oil giant Saudi Aramco is believed to be the front-runner to buy Turkish fuel stations business Petrol Ofisi from Austrian oil group OMV , sources familiar with the matter said. Saudi Aramco has placed a bid and is awaiting the result, said one source who declined to be identified because the matter is not public. An OMV spokesman said the firm had received binding offers for Petrol Ofisi…
OMV Will Keep Refineries Out of Asset Swap
Austrian energy company OMV will exclude its refineries from an asset swap being negotiated with Russia's Gazprom, its chief executive told staff at its main refinery on Wednesday, a person familiar with the matter said. OMV and Gazprom have for months been working towards a deal under which OMV would take a stake in the Urengoy gas field in Siberia…
OMV Looks to Sell Turkish Unit Petrol Ofisi
Austrian oil group OMV said on Friday that it is putting its Turkish subsidiary Petrol Ofisi up for sale as part of its strategy to dispose of non-core assets. OMV is focusing on growth in its upstream business, which covers crude oil and natural gas production, and its integrated downstream business, covering refining, sales and distribution.
Austria's OMV Looks to Sell Turkish Unit Petrol Ofisi
Austrian oil group OMV said on Friday that it is putting its Turkish subsidiary Petrol Ofisi up for sale as part of its strategy to dispose of non-core assets. OMV is focusing on growth in its upstream business, which covers crude oil and natural gas production, and its integrated downstream business, covering refining, sales and distribution.
