The world’s largest independent oil trader, Vitol, will buy stakes in some upstream assets in West Africa from Eni for $1.65 billion, subject to closing cash adjustments, the Italian energy major said on Wednesday. Eni has been pursuing in recent years the so-called ‘dual exploration model’, under which it sells part of its majority stakes to other companies to fast-track oil and gas discoveries to production.
Vitol, for its part, has been looking to get into more upstream and downstream assets after the world’s biggest…Vitol to Buy Stakes in Eni’s Upstream Projects in West Africa
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