Vitol Oil Trading Company quietly sells all Russian assets

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Baku, March 7, AZƏRTAC

Vitol, one of the world's largest oil trading companies, has sold all its Russian assets, the Russian version of Forbes magazine reported.

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. The value of the deal is estimated by sources close to the deal at between $50 million and $100 million, Forbes reported.

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