In 2020, the company set up a use venture to produce oil and gas
In July 2020, The Vitol Group (Vital), a leading global energy trader, set up a new venture in the United States to produce oil and gas. This new company was named Vencer Energy LLC (Vencer). This subsidiary later acquired assets of Hunt Oil Company in the Permian Midland Basin, thereby establishing the company as a significant shale producer in the United States.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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