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Vitol snaps up West Africa assets from Eni, strengthening upstream presence

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Vitol will buy stakes in West African oil and gas assets from Italy's Eni , bolstering the global commodity trading house's position in the upstream sector, as it seeks to reinvest the huge profits it has been generating since 2022.
Vitol, a global energy and commodities company, has acquired assets in West Africa from the Italian energy firm Eni, enhancing its upstream presence in the region. The deal includes interests in the Ivory Coast's Baleine and CI-205 blocks, as well as the Cape Three Points block in Ghana. This acquisition not only expands Vitol's oil and gas exploration and production capabilities but also aligns with its strategy to invest in regions with significant growth potential. The transaction underscores Vitol's commitment to increasing its footprint in Africa, where it already has a strong trading presence, and supports its broader goal of balancing its portfolio between trading and upstream activities.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/markets/vitol-snaps-up-west-africa-assets-from-eni-strengthening-upstream-presence/ar-AA1BeYsH ]