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07 May 2024

Vitol Joins Angola Oil & Gas 2024 as Silver Sponsor

Vitol Joins Angola Oil & Gas 2024 as Silver Sponsor
Energy and commodities company Vitol will participate at the Angola Oil & Gas (AOG) 2024 conference – scheduled for October 2-3 in Luanda – as a silver sponsor. The sponsorship demonstrates the company’s dedication to fueling the expansion of the Angolan oil and gas market by leveraging its extensive expertise and services.

Vitol operates at the core of global energy transactions. With a daily trading volume exceeding seven million barrels of crude oil and products, the company utilizes its expertise and logistical networks to distribute energy around the world efficiently and responsibly. Currently, Vitol has investments in six refineries worldwide, boasting a refining capacity of 480,000 barrels per day.

In Angola, Vitol has operated for several years, distributing petroleum products to the local and regional market. The company secured a tender from Angolan national oil company Sonangol for the one-year supply of gasoline to the nation in 2021. This strategic move not only highlights Vitol’s burgeoning influence within Angola’s oil and gas sector but also underscores its pivotal role in ensuring consistent fuel availability. Furthermore, this partnership underscores Angola’s collaborative approach with major industry players to meet its energy demands efficiently.

Previously, Vitol entered into a multi-year LNG sales agreement with Angola LNG, signifying a significant development in the LNG market. Under this agreement, Angola LNG committed to delivering cargoes to Vitol at destinations worldwide. The history of Vitol procuring LNG cargoes from Angola LNG underscores a robust and ongoing partnership between the two entities. Additionally, Vitol aims to bolster its portfolio and play a role in meeting global energy demands, with a particular focus on Angola.

Vitol’s commitment to Angola extends beyond sponsorship, evident in its collaborative ventures with African entities to optimize the value of crude oil and ensure a steady supply of fuels to burgeoning markets. While recent investments span various African nations, including Kenya, Nigeria and South Africa, Vitol’s sponsorship for AOG demonstrates its active involvement in Angola’s oil and gas sphere.

This year’s AOG 2024 conference will serve as a premier platform for stakeholders to address pressing issues within Angola’s oil and gas domain, encompassing strategies to mitigate production decline, bolster exploration efforts, diversify the economy and spearhead a just energy transition by harnessing natural gas resources.

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