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Oil report

REUTERS SUMMIT-Vitol considering acquisitions in U.S. shale oil industry, says CEO

LONDON, Nov 10 (Reuters) - Vitol Group is considering new acquisitions in the U.S. shale oil industry and would aim to have deals in place by late 2021 if it decides to go ahead, Russell Hardy, chief executive of Vitol Group, told the Reuters Commodity Trading Summit.

“Nothing has been done, it’s just an area where we feel there might be a fit from an asset point of view, where capital is leaving and some assets are going to want new owners,” he said, adding that if the company chose to proceed it “would be good to have it this time next year”. (Reporting by Julia Payne and Dmitry Zhdhanniov; Editing by Edmund Blair)

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