Vitol to Partner with Eni

Eni, Italy's biggest energy company, agreed on a joint venture with Vitol as part of its efforts to expand its presence in sub-Saharan Africa.

"We have decided to expand our reach thanks to a joint venture with Vitol in Ghana after a large discovery of a few months ago," Eni CEO's said.

Check out this article for more information.

Galoc Resumes Operations

Galoc Production Co. (GPC), owned by The Vitol Group with a 68.6 percent interest, restarted production from the Galoc oil field early this morning. Operations were susupended in June due to bad weather.


The Galoc oil field is estimated to contain 10 million barrels of oil, and produces between 12,000 and 14,000 barrels per day. Crude oil from Galoc is expected to generate foreign exchange savings for the country worth over a billion dollars during its lifetime. The oil field’s production is 6% of the country’s total demand of 300,000 barrels.


See Business World Online and Energy Current for full coverage.

Vitol Completes Expansion Projects at Two Terminals

The Vitol Group announced today the completion of two key projects in its storage and terminals business, VTTI (Vitol Tank Terminals International).

One at the Vitco terminal, near Buenos Aires, Argentina (see photo below). According to the release, eight new tanks have been added, providing an additional 54,000 cubic metres of capacity to the existing 126,000 cubic metres of storage.











The ETA Eurotank terminal in Amsterdam, Netherlands, also added new tanks, providing an additional 150,000 cubic metres of capacity to the existing 1,250,000 cubic metres of storage.

Check out the full release