×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Vitol Oil Trading Company Quietly Sells All Russian Assets

A sign is pictured in front of Vitol Group trading commodities company building in Geneva. Denis Balibouse / Reuters

Vitol, one of the world's largest oil trading companies, has sold all its Russian assets, the Russian version of Forbes magazine reported Tuesday, citing sources close to the deal.

Vitol sold its Russian business ?€” a number of mine deposits in the republic of Komi controlled through Arawak Energy Russia and RF Energy Investments ?€” last year, an undisclosed source close to the company told Forbes.

The buyer of the assets was the Swedish oil and gas company Petrogrand. The value of the deal is estimated by sources close to the deal at between $50 million and $100 million, Forbes reported.

The press offices of Vitol and Petrogrand declined to comment on the deal when contacted by Forbes.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more