Altus Power (NYSE: AMPS), a leader in commercial-scale clean electric power, today announced a significant expansion of its portfolio with the acquisition of approximately 84 megawatts (MWs) of commercial-scale solar arrays from Vitol, the world’s largest independent energy trader. The deal, valued at approximately $118 million, marks a substantial growth step for Altus Power, adding […]
Civitas Resources is set to expand its footprint in the Midland Basin, US, with the acquisition of Vencer Energy’s oil-producing assets in a deal valued at approximately $2.1 billion. This strategic move grants Civitas Resources access to an estimated 400 gross development locations, primarily located in the Spraberry and Wolfcamp formations in west Texas. The […]
Recoil Resources, a privately held oil and gas company focused on the Eagle Ford Shale oil window, announced a pivotal financial milestone—securing a senior secured term loan with Valor Upstream Credit Partners, L.P. (“VCP”). This deal positions Recoil Resources for aggressive growth in the booming Eagle Ford oil window. VCP, a dedicated upstream credit fund, […]
Wind turbine manufacturer Vestas has secured a 139MW order to upgrade an existing wind project owned by Vitol in Pennsylvania, USA. The upgrade will involve the installation of 68 V110-2.0 MW wind turbines in a 2.05 MW operating mode, replacing the site’s current Senvion MM92-2.05 MW wind turbines. The order includes the supply, delivery, and […]
ADNOC LNG, a subsidiary of ADNOC, and energy trader Vitol have signed a six-year supply agreement for the sale of 1.8 million tons per annum (mtpa) of post-2022 LNG volumes. The Abu Dhabi-based ADNOC LNG also signed a two-year supply agreement with French oil and gas giant Total for 0.75 mtpa of 2021 and 2022 […]
Vitol has taken full ownership in asphalt trading business VALT after acquiring the remaining 50% stake it previously didn’t own from its joint venture partner Sargeant Marine. The VALT bitumen joint venture was established by Vitol and Sargeant Marine in 2016. Sargeant Marine is an asphalt trading, storage and transportation business. The asphalt trading business […]
Vitol has signed a sale and purchase agreement (SPA) to buy LNG from Nigeria LNG Limited (NLNG) through the latter’s Trains 1, 2 and 3 located on Nigeria’s Bonny Island. The Dutch energy trading company will receive 0.5mtpa of LNG for a term of 10 years on a delivered ex-ship basis starting from October 2021. […]