Vitol to buy stakes in Rialto's west African oil assets

GENEVA Tue Apr 23, 2013 6:59am EDT

GENEVA (Reuters) - Top oil trader Vitol has agreed to acquire stakes in Australian oil and gas explorer Rialto Energy's RIA.AX assets in Ghana and the Ivory Coast, the companies said on Tuesday.

Swiss-based Vitol will gain a 20 percent stake in Rialto Energy's Ghana operation and 65 percent in its Ivory Coast unit in exchange for financing for upstream projects.

(Reporting by Emma Farge; editing by Keiron Henderson)