RodOil Distribuidora de Combustíveis, a Brazilian company that operates a chain of gas stations and distributes and commercializes fuel oil, has acquired all the shares of VIP BRAZIL (Vitol).
Vitol is an energy and commodities company that trades more than 7 million barrels of crude oil and products a day. In 2018, Vitol acquired 50 percent of Rodoil for an undisclosed sum.
“We are proud of the way Rodoil has grown and developed over the past 2.5 years, and we wish it every success in the future,” said Jorge Santos Silva, investment director of Vitol. “Vitol continues to believe that the energy market in Brazil presents interesting opportunities, and we look forward to investing in new ventures.”
Financial terms of the transaction were not disclosed.
