en.Wedoany.com Reported - Vitol Group is in advanced talks to sell its shale oil joint venture VTX Energy Partners LLC to a private equity consortium comprising Carnelian Energy Capital and EnCap Investments in a deal valued at approximately $2.3 billion, marking a retreat by the world's largest independent oil trader from the US upstream oil and gas production sector.

According to sources familiar with the matter, the companies involved could sign an agreement as early as next week. Vitol Group co-founded VTX in 2022 with the management team of ATX Energy Partners, aiming to build a portfolio of production assets. VTX produces nearly 46,000 barrels of oil equivalent per day in the Texas portion of the Delaware Basin. This sale would mark Vitol's second exit from the US shale oil sector in two years, following the sale of Vencer Energy to Civitas Resources for $2.1 billion in 2024.

The Middle East war and disruptions to shipping through the Strait of Hormuz have pushed up oil prices this year, prompting more companies to increase crude production in the US. However, after a period of large-scale industry consolidation, companies seeking to expand their drilling acreage face a shortage of available land.

Vitol Group has been continuously acquiring assets in recent years, deploying cash accumulated during a period of record profits into investments, including the acquisition of Italian refiner Saras SpA, coal trader Noble Resources Trading Ltd., and in 2025 announced a $1.65 billion deal to acquire oil and liquefied natural gas projects in Ivory Coast and the Republic of Congo from Eni SpA. Representatives of Vitol Group, EnCap, and Carnelian did not immediately respond to requests for comment.