Deals
Pressure on Noble Group as Vitol Says Oil Deal ‘Complicated‘
- Negotiations may not end in agreement, Vitol CEO Taylor warns
- Noble is rushing to secure sale as it battles for survival
Vitol CEO Sees Oil Above $60 Without Kurdish Supply
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Vitol Group’s negotiations to buy Noble Group Ltd.’s oil trading unit are “very complicated” and may not end in a deal, the chief executive officer of Vitol said, adding to pressure on his Hong Kong-based rival.
The sale of the oil business is crucial to the survival of Noble Group, once Asia’s largest commodity trader. It is rushing to sell the unit in order to pay back about $1 billion of debt under its secured credit facilities, of which the largest matures in mid-January.