Vitol to buy stakes in Rialto's west African oil assets
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)
NEW YORK - Earnings season shifts into high gear next week, and with nearly one-third of S&P 500 names set to post results, investors hope the news provides a catalyst to buy stocks and leave the market's recent weakness in the dust.
- The troubles at BlackBerry Ltd, which fired more than half its staff and lost more than 90 percent of its market value as consumers shunned its smart phones, might have spelled disaster for the company's hometown of Waterloo, Ontario. Instead, there are hot sports cars in the streets and new companies filling the refurbished office buildings. | Video
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.