Vitol-Led Group in Talks to Buy Nigeria Assets from Petrobras

A consortium led by top oil trader Vitol has entered exclusive talks to acquire stakes in Nigerian offshore fields that are held by Brazil’s Petrobras and its partners, industry sources said, Reuters reported. The assets are estimated to be worth up to $2.5 billion, the two banking sources and one industry source told Reuters. The buyers are talking to state-controlled Petroleo Brasileiro SA, known as Petrobras, which is leading the sale, the sources added. The buying consortium comprises Vitol, Vancouver-based Africa Oil and Delonex Energy, an Africa-focused oil company backed by private equity fund Warburg Pincus and the International Finance Corporation (IFC). Delonex, Petrobras and Vitol declined to comment. Africa Oil did not respond to a request for comment. Read more.