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Oil trading giant Vitol bets on fuel retail for growth
Published Sun, Mar 12, 2017 · 09:50 PM
London
FROM Pakistan to Turkey, the world's largest independent oil trader Vitol is betting on a spike in petrol and diesel demand in young and growing nations by snapping up filling stations that disappointed oil companies are prepared to sell.
With the sharp drop in global oil prices, major integrated oil companies have been shedding assets, including the marginally profitable retail outlets, to cut costs.
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