Vitol, the world's largest independent oil trader, has agreed to acquire Asian energy trader Noble Resources for $209 million.
Vitol has agreed to buy Asia n energy products and industrial raw materials trader Noble Resources Trading Limited for $209 million, the world’s largest independent oil trader said on Friday. Vitol will acquire Noble Resources at a purchase price equivalent to $0.63 per share on a debt-free / cash-free basis, which works out to around $208.9 million, the Singapore-listed company said. The transaction, which is subject to customary conditions precedent, is expected to close before the end of 2024.
Vitol Group, for example, last year signed a deal to buy 35% of the Saras refinery in Italy after reaching a deal with members of the Moratti family. Another major trader, Trafigura, said in April that Rhône Energies, its consortium with Entara LLC, has entered into exclusive negotiations to buy the Fos-sur-Mer refinery and the Toulouse and Villette de Vienne terminals from ExxonMobil’s local unit Esso. Glencore also made the list of the biggest oil traders buying refineries from Big Oil.
Noble Resources Oil Trader Energy Products Asia Acquisition Expansion Refineries Commodities Trading
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Asian Heritage Month: Belfast to host first Asian Women's ConferenceThe event will amplify the voices and stories of South Asian women living in and contributing to Northern Ireland.
Read more »
What Does Noble Corp's Acquisition of Diamond Offshore Mean for the IndustryNoble Corporation's acquisition of Diamond Offshore strengthens its position in the offshore drilling sector, signaling a resurgence in offshore exploration and unlocking new opportunities for growth.
Read more »
Love Island’s Zach Noble: his age, height, job and where things stand with Molly MarshHere's everything you need to know about Love Island 2023 star Zach Noble - his age, height and his relationship with Molly Marsh. Read more on heatworld.com.
Read more »
Natural Resources Wales: 265 Welsh environment agency jobs at riskStaff received an email explaining three visitor centres will close if the changes go ahead.
Read more »
Impact of neighborhood resources on resilience after trauma: Q&AMcLean researchers sought to examine whether neighborhood and individual resources prospectively predicted PTSD trajectories following a recent trauma.
Read more »
California adults who need long-term support programs hurt by lack of access to resources: StudyWhether because of age or disability, California adults who require assistance with day-to-day activities like bathing, getting dressed or transportation to stores and appointments reported their health as worse overall and experience higher rates of serious psychological distress, according to a new study by the UCLA Center for Health Policy...
Read more »