Vitol pulls out of deal to buy Petrobras’ Nigerian oil fields

Oil trader Vitol and Delonex Energy have quit a consortium that was set to buy a stake in two Nigerian oil fields from Brazil’s Petrobras.

The sale is part of a Petrobras effort to offload $21 billion in assets amid heavy debts and a corruption scandal.

The Petrobras Africa assets include an 8% interest in OML 127, which includes Agbami, and 16% interest in OML 130, which contains Akpo and Egina. A Chevron affiliate operates OML 127, while Total affiliates operate OML 130.

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