Energy Vitol Co. eyes Yemen's oil and gas
The Source: Muklla/Hadramoutinfo/Saba.net - 24/1/2013
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British energy Vitol Company expressed on Wednesday its desire to create investments and partnership with Yemen in oil and gas fields. During his meeting with President Abdo Rabbo Mansour Hadi, Head of Coal Trading at Vitol Company Bob Finch said that his visit to Yemen aimed to confirm the company's willingness to invest in Yemen.
He said that he has got acquainted with the new situation in Yemen and information about the oil and gas investment opportunities and then decided to invest in Yemen.
He underscored that he would make every effort to be an investor in the country, saying that Vitol Company, with revenues of nearly $300 billion in 2011, becomes the one of the world's largest independent companies in oil derivatives and energy trading.
The President welcomed Mr. Finch and his company's investments in the country, stressing that the oil and gas investment opportunities are available and promising with great economic feasibility.
Vitol Group (Vitol) is a privately owned group of trading companies, with core business in energy, particularly crude oil and oil products.
The company, through its subsidiaries and affiliates, trades crude oil, gasoline, naphtha, fuel oil, gas oil and jet, liquefied petroleum gas (LPG), liquefied natural gas (LNG), natural gas, coal, power, ethanol, chemicals and methanol, non-ferrous metals and sugar.
Vitol also develops oil and gas terminals, and pipelines and offers oil refining services. It also provides financing, insurance, reinsurance, and shipping services.
The company is headquartered in Geneva, Switzerland. The company's trading operations are located mainly in Switzerland and Netherlands, but also has operations in Bahrain, Singapore, Thailand, Brazil, Africa, Europe, Canada, the US, China, India, Russia, Nigeria, Kazakhstan, Peru, and Mexico.
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